The introduction of minimum efficiency standards for privately-rented properties could cost landlords less than £1,500 per home, according to new research published by the Green Building Council and WWF.
Landlords will be required to upgrade any privately rented property with an EPC rating of F or G to a minimum efficiency standard from 2018. The report predicts that new regulation will stipulate that landlords will be prohibited from letting properties rated F and G which haven’t undertaken energy efficiency improvements.
The new estimate is considerably lower than a number of previously published research estimates, with the Energy Savings Trust finding that 74% of F- and G-rated properties could be brought up to an E rating for less than £3,500.
Paul King, chief executive of the UK Green Building Council, said: “This research shows just how easy and affordable it will be for landlords to comply with the minimum standards, with improvements that won’t need to go through the planning system which can be costly and time consuming.
“Minimum standards are a complete no-brainer – they require only the most basic and cost-effective improvements to a home but could save hundreds of pounds a year to the tenant. The government must introduce the regulations without delay to give badly needed certainty to both landlords and tenants.”
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The research was carried out by Parity Projects and examined 3,000 properties with an EPC rating of either F or G. The study found that the average cost of moving a property up to an E rating was £1,421 per property – saving £409 off the average annual energy bill. Of the properties modelled, more than 70% could reach an E EPC rating for less than £1,000.
Zoe Leader, climate and energy specialist for WWF-UK, said: “Improving the energy efficiency of our homes is critical to achieving our carbon emission reduction targets and protecting some of the most vulnerable against the very worst impacts of climate change. What this research also demonstrates, very clearly, is that implementing minimum energy efficiency standards is not only good for the environment but with average bill savings of £409 a year it is also good for our pockets.”
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