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Landlords have no knowledge of EPC rule changes

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1 in 7 (15%) of landlords have no knowledge of the upcoming legislative changes to the Energy Performance Certificate (EPC). From 2025, all newly rented properties will be required to have an EPC rating of C or above. Currently properties only require an EPC rating of E or above. Existing tenancies will have until 2028 to comply with the new rule changes. 

As a result, millions of properties risk potentially being declared ‘unrentable’ and subsequently ‘unsellable’ or ‘unmortgageable’ due to landlords being uninformed about what the changes will mean for current and prospective tenancies.

Landlords currently unaware of the level of work needed on their property, or properties, could be risking a loss in income until all necessary work is carried out. In severe cases, where a substantial amount of work needs to be done to improve a property’s EPC rating, landlords could find themselves unable to secure appropriate financial support to carry out the works. A quarter of landlords surveyed said they had little to no knowledge of the forthcoming changes, with long-time landlords – those who have been renting out properties for over 10 years – found to be less aware of the changes and what impact this could have on their properties.

With a large proportion (36%) of landlords with properties built pre-1940, analysis suggests that a significant number of landlords will be required to make changes.

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Posted by MMB Finance Swindon on 12 January 2022