A new investigation from Easyroommate has discovered that an alarming proportion of landlords have no interest in making their property more energy efficient.
The survey indicates that a huge 60% of landlords do not plan to make any energy efficiency improvements to their home, despite that fact that new regulation comes into play in just 14 months.
Changes
Alterations to legislation that come in effect from 1st October 2016 mean that all privately rented properties must have a minimum energy performance certificate of band E. If they do not make sufficient improvements, landlords will not be able to take on any new tenancies after this date, should their property fall below the permitted standards.
Already, the Government has seen The Green Deal Scheme scrapped and branded a failure. Easyroommate feels that the scheme was not a success as borrowers were hit in the pocket by high interest rates. Additionally, excessive regulations in the UK market mean that loans can take 30 days to be approved, which saw a number of landlords frustrated.
As such, the houseshare website has joined with the Mayor of London on the London Rental Scheme, in a bid to improve the overall quality of the Private Rented Sector. This scheme encourages landlords to work towards making energy efficiency improvements when requested by tenants.
Energy-conscious changes
Easyroommate believe that urgent conversations need to take place with key figures in the Private Rented Sector, with the focus on reducing carbon emissions and other general energy improvements. Additionally, the firm believes a new scheme should be implemented, which is incentive driven, offering tax benefits and low rates on loans taken out to complete energy saving work.
‘Although I am a firm believer that the most cost-effective way to save energy is by changing our consumption habits, it would have been more appropriate to scrap the Green Deal with a clear replacement scheme in place,’ said Karim Goudiaby, Chief Executive Officer of Easyroommate. She believes that, ‘The industry big players and the government should work hand in hand to promptly implement an accessible scheme to help promote energy efficient homes. Caring for the environment is our moral imperative and cutting carbon emissions is our duty. By being energy efficient, landlords will reap the benefits. Not only will it raise their property value, but it will also result in lower energy bills for tenants and a higher EPC rating.’[1]
Goudiaby went on to say, ‘David Cameron claims this is the greenest government ever. How can one proclaim such a bold statement when the government not only scrapped the Green Deal scheme but many other energy efficient projects throughout 2015? Frankly, I think that the government is not doing enough to develop solutions that will benefit tenants, landlords and the environment.’[1]
In a final statement, Goudiaby said, ‘scrapping the deal without any replacement will make it impossible to meet the initial goal of having all the properties rated E by 2018. In my opinion, because there is no funding available, there will be no incentive for landlords and homeowners to become more energy efficient and improve their EPC rating.’[1]
[1] http://www.propertyreporter.co.uk/landlords/60-of-landlords-wont-invest-in-energy-efficient-improvements.html