New research from BDRC BVA highlights the extent of the cost that landlords will need to rack up to get properties up to the proposed EPC standard.
The study, taken on behalf of Aldermore Bank, surveyed 800 active landlords. At present, domestic private rental properties must have an Energy Performance Certificate (EPC) of E or above.
However, proposed changes for 2025 will require all newly rented properties to have a certification rating of C or above, with existing tenancies needing to comply by 2028.
Cost of upgrades set to be high
According to the research, landlords believe that renovations needed to get up to code will not come cheap.
While there is a wide spectrum of costs, landlords that have properties below the EPC rating of C estimate it will take an average of £10,400 per property to get them up to standard. Nearly half (47%) say it will take £5,000 or less per property.
If you are concerned about the upcoming changes, then call to discuss your upgrade requirements.