Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Landlords Face £9,000 Per Property Barrier to EPC Compliance
Landlords are facing financial difficulties in meeting EPC targets, with the typical cost of achieving compliance estimated at around £9,000 per property, according to Barclays. The bank's "closing the energy efficiency gap" report reveals that while landlords are taking action to improve EPC ratings, they are facing financial barriers to making the necessary improvements.
What the Report Says
According to Property118's coverage of the Barclays report, landlords are not standing still on energy efficiency. The report indicates that landlords are taking action to improve EPC ratings. However, the financial barriers to making the necessary improvements remain a significant obstacle.
The typical cost of achieving compliance is estimated at around £9,000 per property, according to Barclays. This figure is central to the report's findings on the energy efficiency gap facing the private rented sector.
Why This Matters for Letting Agents and Inventory Clerks
For letting agents, the report highlights a potential pressure point in the rental sector. If landlords are facing financial barriers to EPC upgrades, this could affect the pace at which properties reach required ratings. Agents may find themselves fielding more questions from landlord clients about the cost of compliance and the practical steps needed to improve EPC ratings.
Inventory clerks also have a role to play. As properties undergo energy efficiency improvements, inventories and check-in reports may need to reflect any changes to a property's fixtures, fittings, or systems. Keeping accurate records of such changes supports landlords and agents in demonstrating the work that has been carried out.
The report does not specify which EPC targets landlords are struggling to meet, nor does it set out a timeline for compliance. It also does not break down the £9,000 figure by property type or region. What it does make clear, according to Property118, is that landlords are taking action but face financial barriers to making the necessary improvements.
What Happens Next
The report's findings suggest that the cost of EPC compliance will remain a live issue for the private rented sector. For letting agents and inventory clerks, the practical takeaway is to stay informed about EPC requirements and to be ready to support landlord clients who are weighing up the cost of improvements against the need to meet energy efficiency standards.
Source: Property118