Ed Miliband ready to challenge landlords over EPC C targets

Reply to the comment left by GlanACC at 02/10/2024 - 18:43
And that's the thing Glan, lot of these works where u get the grant, can't be done while tenant there.
When tenant goes, u don't get the grant, but that's the only time where u can get the work done without wrecking tenants home.
Govt need to wake up to this.

Reply to the comment left by Mick Roberts at 03/10/2024 - 05:59
Like the ill fated "Green Deal" only two landlords successfully claimed that grant.
Green washing by HMG.
It's catch 22.
The system is set to ensure no claims can be made.
This is Ed Milliband's vanity project.

Reply to the comment left by Northampton Landlord at 03/10/2024 - 08:16
Good point in them making it awkward. And given to fly by night builders that pack up business next month when took the grant money.

Reply to the comment left by GlanACC at 02/10/2024 - 18:43
That's correct: You'd have to sell it or do the work and rent it out at a much higher rent...and those higher rents will drive up market rent.....this government policy will drive up rents along with other proposed rent control measures and probably already is doing....as demonstrated by the failed SNP experiment in Scotland.

Whether Red Ed's project is a vanity Robin Hood project to take from the rich and give to the poor (but which some landlords will be smart enough to be able to use to beat the system that is flogging them with a big tax stick by not allowing them to deduct their finance costs) I don't know. What I do know is that it won't do anything to tackle climate change or energy security.

What Red Ed needs to recognise is that he isn't even Errol Flynn, never mind Robin Hood.

https://www.youtube.com/watch?v=m7Dtxe2vNSI

He is supposed to be responsible for things like energy security and climate change. So if he really wants to do something about that he needs to ditch the tights and persuade his left wing colleagues, including Little Red Riding Hood, to:

(1) Use his B in A-level physics to reform the EPC system so that it actually means something useful and we aren't faced with b******t every time we get one.
(2) Make energy improvements tax deductible against revenue expenditure rather than cap. ex.
(3) Once he's reformed the EPC system, allow landlords to deduct their finance costs against rents for the energy efficient properties.
(4) Suggest that every property, including band E, F and G, should be rented out so that rents can find their correct market level rather than be driven up by delusional politicians who haven't understood the lessons of history.

And if Red Riding Hood really wanted to make a difference to the supply of housing she could persuade the Sheriff of Nottingham to stop attacking pensions and allow GB citizens to invest their SIPPS in high energy efficiency residential housing stock, rather than going and spending their pensions in Cyprus or Portugal.

Reply to the comment left by Mick Roberts at 03/10/2024 - 05:59
Govt needs to wake up, full stop.

Reply to the comment left by Ryan Stevens at 03/10/2024 - 15:24
I think that the Merrie Men (and women) of this labour government have already woken up, had their eyes wide open during the election campaign and were prepared to do whatever it took to get into power, and to stay there.

Ed Miliband's offering is nothing at all to do with energy security or climate change; it's a freebie for low income tenants and landlords able to work out how to accept the bung. Now don't get me wrong here...although we have another definition of grant in our household which is 'something we are never entitled to', if I could find a way to legally get a grant (a.k.a. freebie) for one of my tenants then I would do it. But a freebie is what this is and this government certainly understands freebies.

https://www.youtube.com/watch?v=vQ1hIFckqg4

I'm a small portfolio landlord and being a landlord isn't the only thing that I do. The last time that I had to have any dealings with a public sector employee I had to follow guidance that prevented me giving anything to the civil service employees that had a value of just short of a tenner. And I followed these guidelines that even extended as far as free meals.

Now the civil service employees I was talking to were a long way further down the food chain than Keir Starmer, a former head of the crown prosecution service who certainly ought to understand what the consequences ought to be for civil servants accepting 'freebies'.

Ed's offering is just a freebie and nothing to do with a competent response to a need for a coherent renewables energy policy.

There is a very simple solution to ending the war on landlords and section 24. Do not vote for socialism lite the conservatives or extreme communists Labour. Vote Reform who will end the war on Landlords and end section 24 and lower capitol gains tax. It makes me laugh villfying landlords I have been a landlord for 20 plus years never met a bad on most our mom and pop type buisness that want to top up their pension. However over the years I have come across lots of dodgy tennant not paying destroying properties etc
Every landlord needs to vote Reform or accept more and more tax and legislation. The main stream media are the extremely biased and left wing and against reform painting hard right nonsense please watch the conference and read their policy’s the are not hard Right They are just a right ong everything. Lowering taxes is proven to increase growth look at Argentina massive turnaround and first budget surplus in 90 years USA after trump lowered taxes nearly 9% growth and 7 million jobs created. If you are old enough to rember Thatcher like me we went from having no lights on to massive prosperity

As someone with a lot of Victorian terraced housing I’ve experienced EPCs that vary wildly across almost identical housing. There’s no guarantee that making the changes would get the required result as it seems to “just depend”

Every EPC recommends solar and yet every solar quote requires a 10 yr payback. Given solar would be less than £10k the landlord fits the bill so that the tenant gets cheaper electricity….WHY would I do this? Of course I won’t without charging more rent. My tenants are happy, have good quality housing and still manage to dry clothes in the winter and occasionally complain of mould. But all is good overall 🙂
I myself live in an old prop rated an E. I wouldn’t choose to change it and if I did the money spent would take over a decade to recoup if I’m still living here then. I’ve never paid more for a house because the EPC was great or paid less cause it’s bad. I choose based on a whole lot of other criteria (mostly whether my best half likes it! ). I really wish these politicians would get real and talk to real tenants.
I spoke to some local councillors in the area of my houses and they were completely oblivious of the implications on their constituents and their rents. What’s wrong with these people !

Reply to the comment left by JB at 24/09/2024 - 12:11
Nick, I would not suggest that anyone becomes a landlord in the UK in the current anti landlord vibes from the government.
Unfortunately I'm knee deep in it and have too many houses to just get out of it quickly.

I live and work overseas and I want to pull all of my assests out of the UK. Since Brexit, it makes no seance in investing any money in the UK.

My wife makes more money than I do on the same investment, so I know where my future money is going. read the book called expat millionaire. My wife makes double the money that I make for the same investment

Reply to the comment left by Desert Rat at 10/10/2024 - 13:37Same here, I always tried to encourage folks to become an LL, but now I would not do so as I do not think they would be able to make a profit worth all the hassle.
I also am too far in to get out easily, so I will stay and try to survive this completely unfair onslaught on LLs and just hope that this idiot Govt and self-important twa3s like Twomy realise that they are hurting renters and not helping them.
I have, of course, canceled all plans to expand my portfolio.
All my colleagues around here (East Anglia) who I know, are either selling up completely or reducing their portfolios.
It was a sad day for both LLs and tenants when this lot got in power, what a black day it was, or should I say red day.
I do however, believe that where possible, it is in both tenants and LLs interests to raise the EPC levels to a C rating as long as it is feasible to do so, as I have just done. I raised 5 of my properties from D and E ratings to C ratings with help from the EC04 scheme, I had minimal cost to myself and did not have to raise rents to cover it,so all was good there, however, this is not the case for my last 2 properties, 1 of which I shall have to install SVP and raise the rent to cover it, the other property is an E rating and will cost about £20k+ to get it to a C, so I will have to evict the tenant and sell.
I think that properties like this one, where the tenant was perfectly aware that the rating was an E when they moved in and are quite happy with the property, should be left in peace. I have informed them of the situation and they are understandably and unfortunately distraught that they will have to move. At least they have 5 years to get out, so I can sell this property.
Thanks, Miliband, you thick to$$er.