The government’s new plans could see rental properties needing a major energy efficiency upgrade by 2030. Right now, you can’t rent out a property with an Energy Performance Certificate (EPC) rating lower than an ‘E’. But that’s about to change.

The government wants all rental properties to be at least an EPC ‘C’ by 2030. That means you’ll need to make improvements to your properties, like insulation, new boilers, or solar panels.

Financial Help is on the Way (Maybe!)

The good news is the government is thinking about offering financial support to help landlords cover these costs. They’re considering things like:

• Grants: Direct payments to help with the cost of upgrades.
• Interest-free loans: Borrow money without paying any interest, making improvements more affordable.
• Taxation incentives: Reduce your tax bill if you invest in energy efficiency.

However, the details are still being worked out. So it’s unclear exactly what kind of support will be available and when.

How will this affect landlords?

This new policy could be a real headache for landlords, especially those with older properties. But there are also opportunities here:

• Increase rental income: Energy-efficient properties are often more attractive to tenants, meaning you could charge higher rents.
• Reduce your energy bills: By making your properties more efficient, you could save money on your own energy bills.
• Boost your property’s value: Energy efficient homes are in high demand, so this could make your properties more valuable in the long run.

What’s Next?

It’s important to stay informed about these changes and what they mean for you. The government is still working out the details, and they’re looking at ways to make sure the process is fair for everyone.

Propertymark, a trade body representing landlords and letting agents, is pushing for:

• Clarity on the details: They want to know exactly what kind of support will be offered and what the exemptions will be.
• Interim targets: They’re calling for clear milestones to help landlords plan for the 2030 deadline.

It’s crucial for landlords to stay informed about these changes and their implications. As the deadline approaches, it’s time to start planning your strategy for meeting these new energy efficiency standards.