An industry group’s principal Net Zero strategy recommendations will be presented to the Welsh government and beyond.

Landlords are required to get help to boost EPC‘s lobbies. The Welsh government and others will be presented with Propertymark’s recommendations for a Net Zero strategy.

Propertymark asserts that landlords must receive assistance if Wales’s private rented sector (PRS) is to decarbonise affordably.

The Welsh government will now consider several significant recommendations put forth by the industry group.

According to current proposals, Propertymark‘s greatest concern is that all new UK tenancies must meet an Energy Performance Certificate (EPC) rating of C by April 2025 and all existing tenancies by April 2028. However, the organisation has warned that increasing the cost cap on work to improve energy ratings will have the greatest impact on Welsh properties.

The current cap is £3,500, but if a property fails to meet its EPC goal after spending that amount, the owner may apply for an exemption. The government of the UK intends to increase the limit to £10,000, requiring landlords to make a significantly larger outlay.

Propertymark pointed out to a Senedd committee that Welsh homes have some of the UK’s lowest property values and energy efficiency ratings.

EPC Loans

Propertymark has recommended that the Development Bank of Wales offer grants or interest-free loans to landlords to level the playing field.

Other incentives could be provided through the tax system, such as reduced stamp duty rates or council tax rebates for landlords and homeowners. Propertymark has also urged the Welsh government to implement a communications campaign for tenants, landlords, real estate agents, and homeowners to reach its Net Zero goal.

The trade association believes that raising awareness is more important than ever, given the rise in energy costs.

Underperforming

The Senedd committee made 29 recommendations that will be forwarded to the Welsh government, including a proposal that Rent Smart Wales play a role in increasing landlord awareness of Minimum Energy Efficiency Standards (MEES) and identifying underperforming properties in Wales.

Propertymark’s Timothy Douglas stated, “We support the Welsh government’s goals of achieving Net Zero and improving the energy efficiency of homes in and around Wales.”

“We are ecstatic to see that the Welsh government has endorsed all of our proposals, including the availability of interest-free grants for landlords, requests for an agreed timetable and milestones for the sector, the production and inclusion of a clear decarbonisation strategy, and calls for the minister to provide clarity on how she will raise awareness.”

“We now urge the Welsh government to act on these recommendations and collaborate with the UK government to introduce policies that enable landlords and homeowners in Wales to decarbonise their homes and properties.”