Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Landlords Face Average £11,713 Cost for EPC Upgrades
Landlords expect to spend an average of £11,713 on each property that needs to reach an EPC C rating, according to research reported by Property118. The research, conducted by Pegasus Insight, also found that 60% of landlords own at least one property rated below EPC C.
The findings highlight a significant financial challenge for landlords, many of whom already consider the cost of these upgrades to be financially unviable. The potential demand for finance to cover these expenses could be substantial, given the proportion of properties affected.
For UK letting agents and inventory clerks, these figures underline the scale of work that may be required to bring rental properties up to the expected energy efficiency standards. The report suggests that a large number of properties in the private rented sector may need improvements to meet EPC C requirements.
Source: Property118