On the back of the Autumn Budget, it is understandable that many people, not just landlords, are looking at the short-term. There is a need to take on board what is happening in the here and now, and how this impacts your ability to work, spend and save. This then in turn drives your presence in the long-term rental markets.
Landlords must always keep an eye on the future. Any business which solely focuses on the day-to-day will eventually run out of road when it comes to dealing with major matters.
We’ll help you focus on long-term rental matters
One such issue looking over the lettings sector is the need to improve the EPC rating of a rental property.
Property standards is an issue for the Government
As things stand, Labour intend on ensuring all privately rented properties hold an EPC rating of C or better by 2030. Now, its still only 2024, so it’s understandable there are more important things for landlords to consider. However, while we like to think landlords worry about the future, a recent study suggests the switch to the expected level of EPC standards is some way off.
The new analysis examined more than one million properties in the United Kingdom, and 33.8% were found to miss the standard. This means the properties hold a current EPC rating of D or below. In England, things are slightly better with the overall percentage of property not meeting the criteria standing at 33.2%. In Wales, more than half of the considered properties are not up to standard, and in Scotland, it’s over 45%.
What change is right for you and your rental accommodation?
The study was carried out by epIMS, and a spokesperson for them said: “The requirement to meet an EPC C rating will be the latest initiative that will require many landlords to make further investment, with the average cost of achieving such compliance coming in at around £8,000 per property. The issue is that the Government takes a fabric first approach with regard to energy efficiency and that isn’t always the most cost-effective route for landlords. For example, small changes such as installing PV panels is far more affordable than internal or external wall installation, but could be just the strategy needed to achieve the C threshold. This mitigates the need for landlords to spend more than they have to, which in turn reduces the chance that these costs will be passed onto tenants in the form of rental increases, leading to a far less disruptive landscape for renters themselves.”
Contact ADM Residential to let your Huddersfield property in 2024 and 2025
Any landlord or property owner who is keen to let their property in Huddersfield should contact ADM Residential today. We are more than happy to provide you with a property valuation, which is the ideal starting point for anyone looking to enter the Huddersfield lettings market with confidence.
This is a busy time of year in the local and national housing market, but we look forward to assisting you. Call on your leading Huddersfield estate agents today for help and guidance in the local market.
