It stands to reason that if changes are not a legal requirement, fewer people will implement them. It doesn't matter what the upgrades refer to, but if there is no need to make a change, a lot of people prefer to do nothing.
This is why there shouldn’t be a surprise in a new survey which suggests fewer landlords intend to make changes relating to EPC standards if they are not a legal requirement. A study by Landbay finds 62% of landlords who have a property with a low EPC rating intend to improve their standards to a C rating. Of this group, 42% intend to make changes at some point while 20% say they plan to undertake improvements soon.
Before changes to EPC minimum requirements were announced, 73% of landlords said they would upgrade their rental property to at least C standard. Of this group, 39% said they would try to hold out as long as possible until the then proposed deadline of 2028, and 34% intended to make changes sooner than that.
Rob Stanton, business development director at Landbay, said: “We applaud the sentiment around trying to improve the energy efficiency of buildings but we also need to be realistic. The UK has a vast amount of older housing that is difficult to retrofit and will be expensive. Some landlords said they would be encouraged to update their property if there was more government help such as easy accessibility to grants. Over half of rental properties in the UK are D rated or lower so landlords now have some breathing space to plan without a looming deadline.”
At David Harris & Co, we know the importance of presenting a rental property in the best possible condition. It is not just a case of complying with EPC regulations, which are vital, but it is ensuring the tenant feels comfortable and welcome in the rental property. This is something which lies at the heart of what we do, and it is something we work closely with landlords and property investors to ensure takes place.
We also appreciate the impact of budgets, on every partner in the industry, including the landlord. We all know many tenants are struggling, but the same goes for many landlords. We are committed to providing the best standard of service to everyone we work with, and bringing landlords and tenants together isn’t just about housing people, it is about helping everyone benefit.
If you are looking for a property management service provider in Finchley with a strong track record of success, we are here to assist you, and we are more than happy to help.
We have assisted many Finchley landlords connect with willing tenants, and we know where these groups are looking for rental accommodation. You can take the stress out of connecting with your ideal tenant by turning to a local lettings agent in Finchley.
If you want to make an informed decision in and around Finchley’s rental market, we are here for you. If you have any questions about the local market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
