A recent survey conducted by Landbay has unveiled a concerning trend among landlords with properties rated below Energy Performance Certificate (EPC) Band C. Over half of these landlords are choosing to delay critical upgrades required to improve their property ratings, despite looming government regulations.

Some landlords, even in the face of compliance deadlines, appear entirely resistant to change. These individuals intend to continue renting out their properties without making any modifications, disregarding the forthcoming legal repercussions.

By 2030, all rental properties must achieve an EPC rating of at least Band C to align with government mandates. Failure to comply could result in hefty fines. Yet, the survey reveals that 58% of landlords with sub-C-rated properties are postponing necessary upgrades, opting to wait until closer to the deadline. In stark contrast, only 18% have resolved to address the issue immediately.

Surprisingly, 6% of respondents declared that they would not undertake any improvements, even though they plan to continue letting their properties.

The data also highlighted that 35% of landlords admitted their properties fall below the C rating, while half reported their properties met or exceeded this threshold.

The survey further revealed disparities based on portfolio size. Among landlords managing between 11 and 20 properties, a significant 36% reported owning homes rated between D and G. Those with four to ten properties followed at 27%, underscoring a widespread issue among small- to mid-sized landlords. Notably, a small yet significant 5% of landlords were unaware of their properties' EPC ratings altogether.

Rob Stanton, sales and distribution director at Landbay, struck a cautiously optimistic tone: “It’s encouraging that half of our landlords have properties at C rating or above. But those landlords who don’t, and who are putting off upgrading their properties, need to be careful.”

Stanton issued a stark warning about the risks of delay: “Kicking the can down the road may mean that, with a national skilled worker shortage, landlords risk not getting the work done in time. They may face significant fines as a consequence.”

Emphasizing Landbay's commitment to supporting landlords, he added: “As a buy-to-let lender, we are here to help should landlords need extra financing for upgrade work. Demand for decent rental properties already continues to outstrip supply, with many tenants ready and willing to rent across the country. We remain committed to doing our bit to help, innovating to meet the needs of landlords.”

With the 2030 deadline fast approaching, landlords must weigh the potential risks of procrastination against the benefits of early action. The findings underscore the need for urgent intervention and a collective effort to meet these energy efficiency standards.