Date Published 12 July 2018
According to a lender`s latest PRS survey, approximately 93% of rented homes have the required minimum rating and above, as many landlords` have recently installed new boilers.
The Energy Efficiency standards came into force on April 1st with rental homes having to meet the required minimum EPC rating of `E`(Energy Performance Certificate). Those landlords whose properties do not meet the required standard could be been fined up to £5,000 for each residence.
Around two hundred landlords were interviewed by the lender which resulted in the PRS trends survey. One of the topics that were discussed was their awareness of the MEES requirements with 85% stating that they were fully up to speed with the new measures.
The landlords were also asked what types of improvements they had undertaken to comply with the new regulations, with 39% stating they had upgraded the boiler system in one or more of their properties and a further 33% had purchased new windows.
The two least improvements to properties undertaken by landlords were for cavity wall (7%) and or loft insulation (12%), which were carried out in 2017. It is more than likely the majority of landlords had already carried out these measures in previous years.
From the English Housing Survey` s latest statics, 93% of privately rented homes now have an E rating with 76% achieving a `D` band or more.
95% of owner-occupied homes are rated ‘E` or higher with 77% rate at ‘D` or higher.
John Heron, director of mortgages of the lender, said: `The PRS has made significant progress in energy efficiency over the last decade and landlords continue to prioritise investment that will reduce energy consumption and keep costs low for their tenants.
`Energy efficiency in the PRS is now on a par with owner-occupied properties and these latest figures on boiler upgrades demonstrate commitment to further improvement.`