The UK Government has set an ambitious target to reduce greenhouse gas emissions by 80% by 2050. Buildings contribute to over 50% of greenhouse gas emissions in the UK, and most of those that will exist in 2050 already exist, so the property industry has a large part to play in meeting this target.
The private rented sector (PRS) is vital to deliver flexible tenure for a mobile workforce and providing housing where social renting or home ownership is not applicable or affordable. A strong PRS can also contribute to increased supply and more affordable housing in the UK.
The directive was aimed at regulating hedge and private equity funds, but will probably inadvertently catch property companies and property funds, increasing their compliance requirements and costs.
New CRC Guide for landlords and tenants published