EPC Myths BUSTED + Landlord Eco Upgrade Challenges

The Property Nomads Podcast

Rob discusses the challenges landlords face regarding eco-upgrades and Energy Performance Certificate (EPC) ratings, particularly in light of the Labour government's mandate for a minimum EPC rating of C by 2030. The episode highlights a recent article from The Telegraph, which claims that landlords may not recoup their investments in costly green upgrades. Rob focusses on the lack of correlation between improved EPC ratings and increased property values, making it a risky investment for landlords.

KEY TAKEAWAYS

• Landlords must achieve an Energy Performance Certificate (EPC) rating of C by 2030, which may require significant financial investment in eco-upgrades.
• Upgrading properties from a G rating to a C rating can cost around £27,000, while moving from a D rating to a C rating may cost approximately £10,000, depending on the property's current rating.
• There is no solid data to support that improving an EPC rating will increase the property’s market value, leading to concerns among landlords about the return on their investment in eco-upgrades.
• An article from PropertyMark suggested five ways to boost a Victorian property's EPC rating, but some recommendations, such as turning down the thermostat and adding roller blinds, do not actually impact the EPC rating.
• Many landlords are facing financial strain due to the costs associated with meeting EPC requirements, which may lead some to sell their properties rather than invest in necessary upgrades.

BEST MOMENTS

"Landlords are not going to get their money back if they've done costly eco-upgrades."

"There is no hard data to suggest that a higher EPC rating leads to a higher value of the property."

"Turning down the thermostat isn't going to increase your EPC rating."

"If you have a chimney that's open and you don't have a working fire, then draft proofing the chimney... will actually improve the EPC rating."

"Landlords are between a rock and a hard place at the moment."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/homeandproperty/landlords-won-t-get-money-back-after-costly-eco-upgrades/ar-AA1pKQpQ?ocid=winp2fptaskbar&cvid=aa2983d6b21f47b1d45fdfa886d10ec5&ei=4

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