The majority of landlords with properties with an energy performance certificate rating of D or below plan to upgrade to at least a C, with many aiming to make changes as soon as possible, according to Landbay.
Almost two-thirds of buy-to-let owners, or 65%, have properties rated D, E, F or G, according to the mortgage platform’s latest quarterly survey.
It says 34% of landlords plan to make improvements to hit C as soon as possible. More than a third, or 39%, share the same intention, but plan to wait until nearer 2028 under current government net zero deadline proposals.
In a previous Landbay survey conducted last summer, just 27% planned to take immediate action to increase the energy performance certificate ratings of their properties.
Government proposals say new rental tenancies must have a minimum energy efficiency rating of C by April 2025, which will require landlords to spend thousands on such features as heat pumps, insulation or solar panels. All tenancies must meet this standard by 2028.
Government analysis suggests that for the majority of private rented homes, energy efficiency improvements will cost between £5,000 and £10,000.
However, the poll comes after housing minister Michael Gove told the Sunday Telegraph last month that this timetable for landlords might be relaxed, saying that “we’re asking too much, too quickly”.
BTL owners remain keenly aware of the government’s plans, with 78% of landlords conscious of the measures in the latest survey, against 79% in August last year, says the poll.
Landbay managing director, intermediaries, Paul Brett says: “The government’s proposal remains just that – a proposal, and the can has been kicked down the road a couple of times already with the change to 2028 being the latest.
“If Michael Gove’s comments are anything to go by, we could yet see further movement to the timeline.
“In spite of this, it’s very encouraging to see the majority of landlords with lower-rated properties planning to make improvements, especially the strong proportion pledging to as soon as they can.
“If Gove does get his way, it will be interesting to see how these results change – if at all.”
