Landlords... EPC Rating C by 2025!! How can the Private Rented Sector (PRS) best prepare for the UK Government’s net-zero targets? 🎯
➡ The UK housing stock is amongst the least energy efficient in Europe 🔻
➡ Energy use in homes accounts for about 14% of UK greenhouse gas emissions 🏭
📩 Last month, the UK Government published its Heat and Buildings Strategy. The strategy sets out how the UK will decarbonise homes, and our commercial, industrial and public sector buildings, as part of setting a path to net zero by 2050 🔮 https://lnkd.in/d3WRMfPm
➡ 90% of homes in England use fossil fuels, the nation is only currently achieving less than 10% of targets set by the UK Government to reach net-zero by 2050 ⛽
➡ Currently 67% of housing stock is EPC Rated D or lower 👇
➡ Government expects these to be raised to C or higher by 2025! ⚡
➡ This presents a financial and practical challenge for Landlords as it does not fully consider the range of property types in PRS 🏢🏘.
📩'Lagging Behind' report - shines a light on how local authorities can help Landlords achieve these targets 🔦 https://lnkd.in/dSaUZPyK 🗞
➡ Report reiterates Government’s failure to factor huge regional variations in property prices when incentivising Landlords to retrofit property to meet national targets
🙋♀️ How realistic is it that Landlords will be able to reach these standards” as well as “where would the money come from to do so?
A fair question, as Landlords are only able to potentially benefit from a small, very exclusive number of funding options...
💬 Timothy Douglas of ARLA Propertymark: "UK Government must support Landlords by reintroducing an enhanced Green Homes Grant Voucher Scheme and ensuring that policies extend beyond a one-size-fits-all approach" 🗝
💬 Ali Baylav of Cavendish Residential: "We all want more efficient homes but the new rules and requirements must be realistic and achievable - without proper funding, it is unlikely that these targets will be met!
Agree 100% with Timothy Douglas, a one-size fits all policy does not work - differences in age, condition, and size of properties must be considered.
And what happened to the Green Homes Grant Scheme from last year? WHAT A MESS!! Here's £1.5bn but you can't have any of it... RIDICLOUS 🤦♂️
The scheme was time limited so homeowners and Landlords needed to have redeemed the voucher and ensure improvements were completed by 31 March 2022 - was never gonna be enough time from its launch 🚫"
📩 What are EPCs? https://lnkd.in/dN86wVA8
📩 What was the Green Homes Grant Scheme? https://lnkd.in/djzQdCRt
For more information on how the new EPC targets will affect you as a Landlord, get in touch with our EXPERT team 🦹♀️🦸♂️
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Posted 23 November 2021
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