Prime Minister Rishi Sunak has announced that landlords will not now be required to upgrade their properties to an EPC rating of at least a C for new tenancies from 2025.
This means that landlords won’t be expected to pay up to £10,00 in upgrades and there will be no fines for those that fail to reach that standard. Record breaking rents have been achieved across Prime London, growing by 8.8% in August on an annual basis and 29.3% above the 2017-19 pre-pandemic average as tenant demand remains strong and there is heightened competition over a smaller pool of properties. The Renters(Reform) Bill is now working its way through the House of Commons and House of Lords where the proposed reforms include introducing a limit to the number of rent increases to once per 12-month period, removing no fault evictions and strengthening Section 8, allowing landlords to recover their property in certain circumstances.
