Enfield Landlords – Stay Up To Date On EPC Matters
At The Letting Line, we are keen to support landlords in Enfield as best as we can. We offer a range of property management services, and we ensure landlords are up to date with regulations regarding the market.
One change that might be announced in 2022 will impact the current Energy Performance Certificate (EPC) rating.
The National Landlords Association, the NRLA, is calling for the Government to rethink plans that will see landlords paying up to £10,000 to improve the energy efficiency rating of their home. The Daily Telegraph broke the story that the change might be delayed by a year, but this has yet to be confirmed.
Will EPC plans be delayed?
It was initially believed that by 2025, all new tenancies in the private rental sector will have to hold an Energy Performance Certificate (EPC) of a C or better. The current media rumours suggest this will be delayed to 2026. It is also believed there will be no changes to the plans to impose this criterion on all rental property from 2028.
With the Government saying landlords should expect to pay up to £10,000 to bring their property up to standard, this could be a costly time for landlords. With the NRLA announcing their research indicates private landlords make an average net income of less than £4,500 per year per rental property, there is a concern about the costs of these changes, whenever they are introduced.
What do property market experts say?
Ben Beadle, chief executive of the NRLA, commented: “We all want to see as many energy efficient rental properties in the sector as possible. Besides being good for tenants, improvements made to rental properties ensure they become more attractive to prospective tenants when being marketed by landlords and agents. However, the government’s proposals for the sector are not good enough.”
Ben Beadle also said; “They rely on a misguided assumption that landlords have unlimited sums of money and fail to accept the realities of different property and rental values across the country. Ministers need a smarter approach with a proper financial package if they are to ensure their ambitious objectives are to be met.”
Propertymark chief executive Nathan Emerson has spoken about the key issues he expects to impact the lettings market in 2022, and there is no denying energy-efficiency will be a critical factor.
Nathan said; “What we need to see from all UK governments is clarity and support for both homeowners and landlords. At Propertymark we are wary of the one-sized fits all approach currently being taken and the lack of funding support for landlords and homeowners to improve their properties. Policy makers must take into account the disparity of age, size, location and construction of the UK’s housing stock when deciding how best to tackle this huge challenge. Since the failure of the green homes grant, the approach has felt decidedly more stick than carrot; penalisation via green mortgage targets and restricting landlords who can’t achieve an EPC rating C band risks stalling the market and depleting the PRS.”
Contact The Letting Line for letting assistance in 2022
If you are looking for guidance or assistance in the Enfield rental market, we can help. At The Letting Line, we are a specialist letting and property management agent serving Enfield, Barnet, Potters Bar, Brookmans Park and surrounding areas.
We can arrange a free valuation for you, and if you are looking to contact us, please call us on 020 8342 1234.