REVEALED: Is it worth upgrading rental properties to meet new EPC rules?

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Landlords updating their properties to meet imminent Energy Performance Certificate (EPC) changes could make more in lifetime energy savings than they pay out for green improvements – but a significant number might end up out of pocket.

Analysis by Propflo, a decarbonisation platform for lenders, predicts that those who need to spend an average of £4,001 will end up saving £7,691 over the life of technology such as solar panels which typically last 25 years.

But those forking out an average of £9,121 would only save £8,015.

Founder and CEO Luke Loveridge (pictured) tells LandlordZONE that it hasn’t included factors such as mortgage savings, tax relief or grants which would be more specific to each landlord.

“If you include these benefits for both the £5,000 to £7,499, and £7,500 to £10,000 bands, they will likely mean landlords won’t be materially out of pocket. If they just do the minimum retrofit for £10,000, then they just might be left out of pocket.”

Increased rents

Loveridge adds: “Tenants typically directly benefit from energy savings, so landlords may realise this value through increased rents and/or increased/defended property value instead.”

Propflo says that while a significant majority of privately rented properties below an EPC grade C would need to spend close to or at the £10,000 cap (over 80%), 2% of properties would only require an average expenditure of £311 to achieve compliance, while another 6.2% would require an investment of £1,514 per property.

The analysis also finds that 81% of properties within scope have at least one low-cost energy efficiency improvement recommendation, including energy-efficient lighting or loft insulation, while 0.2% of properties only require a single low-cost improvement to get a grade C rating.

This analysis comes as the deadline for meeting new MEES regulations – expected to be announced later this year – could be relaxed.

Read more about EPC regulations.

View Full Article: REVEALED: Is it worth upgrading rental properties to meet new EPC rules?

Landlord bans gather pace as second person booted off register this week

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A second landlord has been removed from the register in Scotland in a week after failing to do any repairs to her decrepit property.

Glasgow landlord Madiha Tariq ignored a condemned boiler at the house in Everard Drive (pictured), which was found in an “unacceptable” state after the tenant raised concerns.

It follows the removal of landlord Ashiq Rasul and is a sign of what’s to come in England when the Renters Reform Bill – bringing in a national landlord register – becomes law next year.

Understand the Renters Reform Bill.

Glasgow City Council’s licensing committee heard that an inspection of Tariq’s property in November 2018 found extensive signs of damp and mould on the walls, gutters in serious need of repair, and leaking radiators in poor condition, reports Scottish Housing News. Tariq also failed to provide basic gas and electrical safety certificates.

The tenant told inspectors she had signed a disclaimer letter but had continued to use the boiler as she had no other means of heating or hot water.

Tribunal

The case was taken to the housing and property chamber of the first-tier tribunal for Scotland which ruled in July 2019 that the landlord, who had five properties in the city, failed to comply with a repairing standard enforcement order.

It issued a rent relief order and said it had, “rarely been faced with such a flagrant disregard for the duties of a landlord and takes the most serious view of the situation”.

Councillor Alex Wilson (pictured), licensing committee chair, says: “The failure to provide gas certificates, carbon monoxide, legionella – these are all things that can lead to death, and certainly to injury. The fact that they haven’t provided any of these items timeously is of great concern to this committee.”

The case has also been referred to Police Scotland.

What is the Scottish landlords register?

View Full Article: Landlord bans gather pace as second person booted off register this week

Landlords urged to ignore social media ‘experts’ and sign up to selective licensing scheme

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Landlords who are in Birmingham’s new selective licensing scheme are being urged to ignore social media ‘experts’ who say they don’t need to apply for a licence.

Landlord Licensing & Defence says the advice could see the landlords who don’t apply being hit with a £30,000 fine.

View Full Article: Landlords urged to ignore social media ‘experts’ and sign up to selective licensing scheme

Landlords pull out of London’s temporary accommodation sector

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London’s boroughs are sounding the alarm over the escalating housing pressures after it was revealed that there has been a surge in landlords pulling their properties from being used temporarily by homeless households.

The crisis has reached ‘new extremes’

View Full Article: Landlords pull out of London’s temporary accommodation sector

House prices need to plummet by 19.3% to reach pre-pandemic levels

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British house prices would need to plummet by a staggering 19.3% to reach their pre-pandemic levels as fears rise over a cooling market, research suggests.

The findings from property purchasing specialist, House Buyer Bureau, show this decline is more substantial than the -12.9% contraction seen during the global financial crisis of 2008/09.

View Full Article: House prices need to plummet by 19.3% to reach pre-pandemic levels

Climate change will hugely increase demand for greener short lets, says expert

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A leading energy efficiency consultant has called for a transformation in the way landlords operate short-let holiday accommodation, saying this housing sector needs to reduce its carbon footprint urgently to address guest needs and increase bookings.

James Tanner, who runs his is own eponymous consultancy, tells LandlordZONE that  climate change is now beginning to impact people’s holiday choices with recent research showing 78% of travellers intend to stay in a sustainable property this year, a 10% increase from last year, that 76% want to be in nature and 50% want to walk to activities.

According to Sykes Holiday Cottages four of the top five  activities guests want is to walk, cycle, be in the countryside or by the coast.

And as global warming is continuing  to progress there will be an increase in demand for sustainable travel, he says.

“This summer’s litany of forest fires abroad in places like Greece, and other European countries; flooding in Asia and the US;  and the unusual weather we’ve had in the UK are making people more aware that their holiday and travel choices need to be greener,” he says.

Released

Tanner says global climate warming will only make this more important – and pressing – for the holiday accommodation sector as people seek to find properties that help offset rather than contribute to the problem of too much carbon being released into the atmosphere.

“Given that around 20% of emissions globally and in the UK come from homes, the short lets sector can play an important role in reducing carbon emissions,” he adds.

Tanner is calling on short-let landlords to help guests by ensuring their properties meet the highest eco-friendly standards in terms of heating; offering sustainable travel options; reduced waste and recycling; the availability of locally-produced, low-carbon food; and ‘no carbon’ activities nearby such as walking.

Play its part

“This may all sound something that will be needed in the future, but as the weather is demonstrating, the challenges for the environment and those who live in it are becoming apparent now and the huge short-lets holiday accommodation sector needs to play its part,” he adds.

“The time for change is now – caring about sustainable travel and the environment will soon become something guests from all walks of life adopt as the signs of environmental change become more obvious.”

Read more: Ultimate guide to ecofriendly rental properties.

View Full Article: Climate change will hugely increase demand for greener short lets, says expert