The facts: Energy Performance Certificate (EPC)
If you have bought, sold, let or rented a property you will have come across an ‘EPC’. An ‘Energy Performance Certificate’ is required for all property when sold or let; it details the current energy efficiency, as well as ways to improve it. By law, this legal certificate should be made available for a buyer or tenant when looking at a property. In this blog we provide a breakdown of what you need to know about an EPC, whichever rung of the property ladder you’re on.
An overview
An EPC is valid for 10 years and highlights how energy efficient a property is. It includes a multi-coloured graph much like a sticker on new appliances, rating it from A (very efficient) to G (very inefficient). Its purpose is to provide a buyer or tenant with a guide on how much the property is potentially going to cost to heat and light, and what its carbon dioxide emissions are likely to be. It also documents recommendations for improvements. An EPC should be commissioned prior to marketing a property.
Home improvements
Your EPC will include recommended measures and actions to improve your property energy performance. These include things such as installing wall and floor insulation, solar water heating, double glazed windows, a new boiler and low energy lighting. For more ways to reduce energy and save money, read the government’s recommendations here.
When should you renew?
An EPC needs to be current (it is valid for 10 years) on completion of the sale of a property. If it expires during marketing or after a sale has been agreed, the seller will need a new one. We would advise you to get a new EPC if the current one expires within five-six months.
In some cases where extensive works have been carried out, the homeowner might choose to get a new EPC - however there is no legal obligation if the EPC is still valid. Your estate agent or lettings agent can advise you on this.
Changes to EPCs for landlords and tenants
As of the 1st April 2018 properties being let are now required to achieve a minimum rating of E before granting a new tenancy to new or existing tenants. As well as helping lower bills for the tenant, this new regulation is part of the UKs efforts to reduce carbon reduction by 80% by 2050. Failure to meet the new law could mean a fine of up to £4,000 – a cost that is best avoided!
How to get an EPC
You can arrange this yourself with a local energy assessor, or alternatively your estate agent or letting agent can sort this for you, leaving you with one thing less to do when you decided to sell or let your home.
For more advice on EPCs and your property needs, contact your local Proctors office here.
Keep up to date with our latest news and views on social media; follow us on Twitter, Facebook, LinkedIn, Google+, Pinterest and Instagram.