Principle welcome government’s landlord-friendly approach on energy efficiency improvements

The government’s more landlord-friendly approach on encouraging residential landlords to meet minimum energy efficiency standards has been welcomed by Principle Estate Management.

Prime Minister Rishi Sunak Mr Sunak has announced that no legislation will be introduced requiring property owners to make energy efficiency improvements, known as EPC ratings.

And he also pledged that extra money would be made available to those who wanted to replace their gas boilers with heat pumps.

Lauren O’Brien, head of lettings at Principle, explained that adopting a more persuasive approach, coupled with removing the threat of law, would assist landlords who were already under pressure at a time when the economy was only just recovering.

Ms O’Brien said: “The government’s announcement that they will not be mandating the energy performance rating to be increased is an important and rational step that we welcome.

“At the same time, the government has insisted it is still committed to achieving net zero by 2050, and this is seen as crucial by everyone in the sector.

“But encouraging landlords to do this with a healthy mixture of advice, publicity, guidance grant assistance is far more likely to get landlords’ attention.

“Forcing landlords to upgrade the energy performance certificate (EPC) rating of their properties would have been incredibly expensive.

“Indeed, the potential expense of meeting legal deadlines would have made it extremely difficult for many landlord to continue their trade, as the sector is already under severe costs pressures.

“However, by treating landlords maturely and with respect, we believe that many will make the improvements needed, but at their own pace and with the ability to plan their finances ahead.”

Instead of legislation forcing energy efficiencies, Mr Sunak has announced that the boiler upgrade scheme will be increased from £5,000 to £7,500 with 'no strings attached'.

This grant is available to support the installation of heat pumps and biomass boilers in homes and non-domestic buildings in England and Wales.

Ms O’Brien added: “Given the costs involved, we also welcome this move to increase the grant by 50%, incentivising landlords rather than penalising them.

“This will be especially helpful for landlords with large portfolios, as it will allow them to plan these improvements on an affordable schedule.”

Anyone interested in a free property health check from Principle can contact Ms O’Brien by emailing her at lettings@principleestate.co.uk.