Some 42% of landlords are unaware of EPC overhaul standards according to a survey from energy efficiency platform epIMS.
It says four in 10 landlords remain unaware that an EPC rating of C is soon to become the minimum standard allowed by law for private rented properties, and more than a quarter don’t know what their current EPC rating is.
Shortly before Christmas the government announced a consultation on changes to the EPC rating system
However 42% of landlords aren’t aware that the minimum standard required will soon be upgraded to an EPC rating of C.
And over a quarter (27%) say they are unaware of what the current EPC rating is for each of the properties in their portfolio.
Some 32% of landlords are unaware that EPCs are scored using a points-based system, and 65% don’t know how many points are required to achieve an overall rating of C.
By 2030, landlords will have to ensure that their properties have a minimum rating of C, or else they will not legally be allowed to be let on the private rental market.
When asked when they plan to carry out the required energy performance improvements, 15% say they’ll do it within the next 12 months, 11% say within the next four years, and 75% are willing to wait until the last possible minute, stating only that they plan to make the improvements ‘by the 2030 deadline’.
When asked what the biggest challenges are in bringing their properties up to the required standard, the most common response is ‘the cost of making the improvements’.
The second-most common answer is ‘understanding what improvements will positively impact my EPC score’, followed by understanding to what extent they need to improve their properties to reach a rating of C.
An epIMS spokesperson says: “A lot of landlords feel like they’re swimming against the tide at the moment, and with the government now intent on introducing new minimum EPC standards, it’s understandable that many feel frustrated at yet another policy that is likely to eat away at their profit margins.
“But improving an EPC rating needn’t be difficult or overly expensive, it just requires a good understanding of how ratings are attributed and how different improvements can increase your score.
“To this end, landlords are being bombarded with generalised lessons on how to improve a rating, but this knowledge is only so helpful. No two properties are the same, so what’s important is gaining insight into exactly where your specific property is falling short and what improvements are going to have the biggest impact in terms of the points awarded.”