Over half of landlords with properties rated below Energy Performance Certificate (EPC) Band C are putting off necessary work to improve their ratings, according to a survey by Landbay.
A small number of landlords with these ratings do not plan to make any changes, despite continuing to rent their properties.
All rental properties must achieve an EPC rating of at least C by 2030 to comply with Government regulations, or risk significant fines.
Landbay found that 58% of landlords with properties rated below C will delay upgrades until closer to the 2030 deadline, while only 18% stated they would undertake improvements immediately.
6% indicated they would not make any changes despite their intention to keep renting.
The survey showed that 35% of landlords reported their properties fall below a C rating, with half of them above C.
A landlord said: “I think the EPC ratings are somewhat unrealistic for most given that the council themselves also have properties in need of upgrades.”
The survey also indicated that landlords with 11 to 20 properties reported the highest number of those rated D to G at 36%.
Landlords with four to 10 properties followed with 27%.
Notably, just over 5% of landlords were unaware of their EPC rating.
Rob Stanton, sales and distribution director at Landbay, said: “It’s encouraging that half of our landlords have properties at C rating or above.
“But those landlords who don’t, and who are putting off upgrading their properties, need to be careful.
“Kicking the can down the road may mean that, with a national skilled worker shortage, landlords risk not getting the work done in time, they may face significant fines as a consequence.
Stanton added: “As a buy-to-let lender we are here to help should landlords need extra financing for upgrade work.
“Demand for decent rental properties already continues to outstrip supply, with many tenants ready and willing to rent across the country.
“We remain committed to doing our bit to help, innovating to meet the needs of landlords.”
