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16:57 PM, 22nd September 2023, About 8 months ago 74
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Rishi Sunak has once again shown his true colours as a Prime Minister who does not care about the interests of landlords and the private rented sector.
In a shocking move, he has scrapped the plans to enforce minimum Energy Performance Certificate (EPC) ratings for rented homes, which would have required landlords to upgrade their properties to a C rating. To me, the EPC rules should either not have been introduced without a firm and achievable deadline – an insinuated deadline created lots of confusion among landlords – or the government shouldn’t have bothered with the notion that only rented homes needed energy improvements.
The PM’s decision is a slap in the face for thousands of landlords who have already invested in improving the energy efficiency of their properties, in anticipation of the new regulations.
Some landlords have spent thousands of pounds on installing insulation, double glazing, new boilers and renewable energy sources.
And let’s not forget that thousands of landlords will have sold their properties – some will have offloaded at a loss – because they could not afford the necessary EPC improvements.
For those landlords who have already invested in upgrading their properties to meet the EPC standards, Sunak’s decision is a bitter blow.
They have spent their hard-earned money on making their properties more energy-efficient, and now they are being told that it was all for nothing.
This is a betrayal of their trust, and it will leave many landlords feeling resentful.
However, I accept that without EPC criteria, there is no guarantee that landlords will invest in making their properties more energy efficient.
Why can’t we have a staged approach? Why couldn’t we move to a D rating, with exemptions for listed homes, and then a few years later to a C? (And then, I’m guessing, the climate crisis hoaxers would demand an A rating…).
But we can’t pretend that something like this was not in the offing – I raised the issue when I asked: ‘Landlord’s EPC deadline: Does anyone else feel conned?‘
This is when the landlord’s friend Michael Gove hinted that too much was being asked of landlords, and the costs were too high.
Now, Sunak claims that he made this U-turn because he felt the costs involved were too much at a time when many people are facing financial difficulties.
He also said that he wanted to have a more honest and pragmatic debate about how to achieve Net Zero emissions.
But these are just empty words from a Prime Minister who has no vision or leadership. Remember, this is a leader who wasn’t voted into power by us or even the Conservative Party members. He’s a placeman for the Parliamentary loons running (ruining?) this country.
Landlords and landlord organisations have been asking for a firm deadline for the EPC regulations for years now, so we had something to work towards.
It didn’t come.
I’ve also got issues with Sunak’s argument that scrapping the EPC criteria is necessary to help landlords and tenants during the cost-of-living crisis.
This argument is flawed because scrapping the EPC ratings will not help landlords in the long term.
In fact, it will probably make it more difficult to rent out homes in the future since tenants will want to live in energy-efficient homes that are cheaper to heat.
Landlords who do not invest in making their properties more energy-efficient will find it difficult to attract tenants.
Indeed, we saw this week that landlord investors are unwilling to buy a home that doesn’t have a C rating. This is the direction of travel, whether we like it or not.
Sunak is not only betraying landlords but also tenants because landlords who have improved their EPC rating have had to put rents up. Sunak has belatedly acknowledged this.
This is in a ‘cost-of-living’ crisis.
Now Sunak says he is still committed to meeting the 2050 Net Zero target.
What does this mean? What can we expect as landlords?
Landlords deserve better than this.
We also deserve a Prime Minister who respects our contribution to the housing market and supports us to make our properties greener and more comfortable.
After this debacle, will landlords vote Conservative at the next election? The answer will be Yes because the prospect of Labour getting in (which I don’t for a second believe they will) means the EPC regulations will be back on the agenda, along with other draconian legislation aimed at wiping out those nasty landlords in the UK.
Who will fight our corner? Who will stand up and explain that without our investment efforts and time spent providing homes, the country needs us?
And if we are to improve EPC ratings in the future, make it for ALL homes not just those in the private rented sector. Afterall, the ‘climate crisis’ affects everyone in the country and not just private sector tenants – does it not?
But, just in case, here’s a helpful message to a future government: Please reinstate section 24 so we have a chance of making a profit and commit to helping us provide the desperately needed warm homes that tenants need.
It’s not too much to ask, is it?
Until next time,
The Landlord Crusader
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GlanACC
20:55 PM, 22nd September 2023, About 8 months ago
Too little, too late. I have already committed to selling up and plans are in place. I suspect may other landlords won't change their mind now as Labour are still committed to making life hard for landlords.
russell branch
2:21 AM, 23rd September 2023, About 8 months ago
What a foolish article.
Ray Lancaster
7:01 AM, 23rd September 2023, About 8 months ago
To me the government has made the right decision. Landlords who have spent money on energy efficient measures already can’t complain about the u turn as it was never law to do this and only a proposal. I believe also that better options will be available by 2035 than buying electrical vehicles. I for one do not want an electrical vehicle.
Example. Low energy light bulbs. Old incandescent light bulbs were fazed out for low energy bulbs so people bought them only for a few later led bulbs were available and a lot better.
AP
8:23 AM, 23rd September 2023, About 8 months ago
Come on Property 118. You usually don’t stoop to blatant click bait articles but judging by the number of comments this one had worked in driving traffic.
The whole article contradicts itself. LC complains about spending money on upgrades, then also complains that tenants will choose properties that are energy efficient?
I’m no fan of the current government but in relation to EPC’s, this is what landlords have been calling for. But that doesn’t mean we won’t still invest in making our properties energy efficient over time (just without an un-achievable arbitrary deadline)
M&SFAN
8:30 AM, 23rd September 2023, About 8 months ago
I can't understand anyone wanting to vote for any party that has shown themselves disorganized, uninformed and, with ample evidence they have now show have misused billions of public money ie our taxes by handing big contracts to their mates such as Michelle Mone and her hubby. Starmer has some very sensible plans for reforming the system we are suffering from, notably the courts so we aren't swung by the goolies by bad tenants for months and years but will get better access to justice which will help the housing market all round. he also has plans to build the UK economy around creating green tech which we are totally missing out on while the whole world is going after it. I just want a govt that looks ahead further than next week and does some actual strategic planning whatever name their party has.
steve watt
8:41 AM, 23rd September 2023, About 8 months ago
Well I suppose it was a legacy from Carrie and Boris, best forgotten.
There are some good energy saving improvements, but it is better to decide based on the economic effect for the property.
Lisa008
9:10 AM, 23rd September 2023, About 8 months ago
Uncertainty and flip-flopping have various consequences... one being some may have 'jumped the gun' and sold up, or made changes that they maybe wouldn't have now that it's not (for the time being) being 'forced' by law... but the other thing that no-one has mentioned, is that I've been to view several EPC D properties over the years and was put off buying (or reduced the offer price accordingly) with the mistaken belief of this change being on the cards...
So if you did sell up a D property, you probably got offered less if it was a landlord buyer, but likewise, if you were selling a C, maybe you got more as those properties were viewed as being 'future-proofed'...
This idea that Labour will get in next is not a foregone conclusion. Nor do I think the EPC issue is completely off the table. Look at the mission statement of Agenda 21... and all this carbon-neutral stuff that they're pushing... I can't help but think that the Tories have ran out of ideas. They are kicking the can down the street... I expect interest rates to drop just before the election and they'll try to get back in. There are people out there who will always vote for them... despite everything, so don't be surprised if they get back in. The fear of 'Labour will be worse' doesn't instill confidence in me that this current lot should be running this country. It's all a shambles.
NewYorkie
10:46 AM, 23rd September 2023, About 8 months ago
Reply to the comment left by Lisa008 at 23/09/2023 - 09:10
My concern is we end up with Labour Libdem coalition. The worst of all worlds.
I'll be shot down for suggesting this, but maybe it's time for Farage to get back in the saddle and raise the Reform UK banner in the red wall seats. They are still angry about the issues which took us out of the EU, and put Boris in [when Farage agreed to step back]. Indeed, they've only got worse e.g. Illegal immigration [and the impact on housing]. We could end up with Reform in coalition to keep whichever party is in No10, honest.
Starmer has clearly put Brexit back on the agenda, and 'levelling up', whatever that is, hasn't materialised. The HS2 battle is in full swing, with Sunak accused of betraying levelling up, but it was never thus. It is an elite service for the elite, saving 20 minutes to Birmingham... from London, and won't be delivered before 2040, at a cost in excess of £100 billion. If they want levelling up, put high speed lines between the great cities of the North and improve links into them from surrounding towns... at a fraction of that cost.
Michael Holmes
10:54 AM, 23rd September 2023, About 8 months ago
Reply to the comment left by dismayed landlord at 22/09/2023 - 12:40
I do synpathise with your situation, but am concerned that you took the BS pumped out by the media and politicians so seriously. I owned three HMO properties which I have upgraded slowly over a period of ten years. None of them reached a C rating and probably they never will. until the law is on the statute book I don't trouble myself. the wole Net Zero climate change nonsense will unravel eventually.
Alexandra
11:27 AM, 23rd September 2023, About 8 months ago
Reply to the comment left by TheBiggerPicture at 22/09/2023 - 12:34
I will certainly be voting reform. Our local candidate in Norfolk has confirmed he is against RRB and current anti landlord rhetoric - I dont think Reform use part whip system so not all candidates may take the same stance