In response to the improvement of the government of energy performance of the consultation of private rented housing, Paragon is asking the Government to leave its 2030 objective or a minimum energy performance certificate of C for rental properties to favor approval, which consists of:
+ 2030 for new holdings
+ 2033 for extended lease
+ 2035 for all holdings
The Department of Energy Security and Net Zero has proposed implementation dates of 2028 for new holdings and 2030 for all holdings. Paragon argues that this Tim frame is too short and could lead to the owners who leave the sector, transferring the issue of updating the property to EPC C to other holdings and causing damage to the tenants by reducing the stock of rental houses. He also argues that there is no sufficient capacity in the modernization and workforce of the Government’s competitive objective to build 1.5 million new houses over Parliament.
Approximately 60% of the properties in the private rental sector in England and Wales are currently in EPC D or lower1, and 1.6 million properties should be updated annually to meet 2030 TARGET2. This is equivalent to modernizing around 2,000 properties in the PRS per day to meet the deadline of 2030, or 4,000 to reach the deadline of 20282.
Paragon’s investigation of almost 900 owners, conducted by Pegasus Insights, found that only 17% believe that 2030 is a reasonable deadline to complete EPC’s works. In addition, almost three quarters (73%) or owners report the demand for tenants to remain solid3, while the latest Zoople rental report found that the tenant’s demand is 79% above pre-pandemic levels, with 22% lower actions.
Louisa Sedgwick, Paragon Bank MD OF HORTGAGES, said: “We support the net zero objective of the government and understand the need to strengthen politics and regulation to boost climatic action, but we strongly urge that a termet termet to togen shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter shooter handle handworm trager trager trager trager trager swalling swalling swalling swallow swallow swallow trager Trager Trager Troger troger troger troger troger troger troger troger troger troger troger troger troger and troger troger plus troger troger and more lock.
“Increase the delivery timeline and the mint of flexible exemptions allows a softer transition to EPC AC in the PRS, without exacerbating the imbalance of demand and supply, which is already expected to grow due to the prognosis population and demographic changes.”
In addition, Paragon advocates the following measures in their presentation of consultation to support the owners to make the transition of the PRS to a minimum EPC C:
+ Reverse to the original proposal of a maximum investment limit of £ 10,000 and a seven -year exemption
+ Introduction A variety of financial measures, such as the subsidy of warm homes, to encourage owners to invest in their properties
+ Make sure the EPC reform is harmonized with the energy performance of the building regime
+ Implement a training program and complementary skills to address the shortage of skills of the modernization and construction industry
+ Consider regional discrepancies in energy efficiency properties, with north and midland with a greater proportion of properties below EPC C compared to the south. This could lead to higher costs and interruptions in these regions.
Sedgwick added: “The hurried legislation could cause significant interruption to an PRS that will already adapt to the correct invoice of the new tenant, which forces some owners to sell because it cannot complete the works on time. Adapt their properties, allow the supply chain of modernization and the workforce to grow and, ultimately, will be more beneficial for the tenants.”
