The Government announced on the 20 September 2023 that the planned legislation for landlords, which would have required them to improve the energy efficiency of all new lettings to a ‘C’ by 2025 and existing agreements by 2028 will be scrapped. This is huge news for landlords, particularly rural estates who would have been required to invest significantly to meet these targets on their housing stock.
Instead, the Government is now intending to support households and landlords to make appropriate changes, for example by increasing the Boiler Upgrade Grant by 50% to £7,500, with the intention to help households replace gas boilers with low-carbon alternatives such as heat pumps. They will also delay the ban of installing oil and LPG boilers from 2026 to 2035, as it has been found that many of these homes are not suitable for heat pumps. There are other grants available at present for occupiers such as ECO4 which is available to householders including tenants who receive income support, this provides up to 100% funding and could include work such as boiler replacement, wall or loft insulation, solar panels or the installation of a central heating system.
Landlords should still be considering how to best invest in a property to make it energy efficient, for both the running costs and comfort of the tenant but also the long term maintenance of the asset. Sworders offer Estate Management services and act for many landowning clients with large residential portfolios. If you would like advice on future proofing your estate to accommodate expected changes, please contact one of our team.