Since the 1st October 2008, Landlords and Vendors in England and Wales have been required by law to provide either their new tenants or buyers with an Energy Performance Certificate (EPC).
To organise a EPC report for your property contact us.
An EPC is similar to labels produced with domestic appliances such as refrigerators and washing machines. The certificate will provide a rating of the energy efficiency and carbon emissions of a building from A to G, where A is very efficient and G is least efficient.
The purpose of an EPC is to record how energy efficient a property is, so that the energy efficiency of one building can be compared to another of the same type. It will also allow tenants to consider fuel costs before they decide to commence a tenancy.
An EPC contains the following information:
The EPC report must be made available free of charge to the prospective tenant at the earliest opportunity and no later than when a viewing is conducted or before entering into a new tenancy agreement.
An EPC is currently valid for 10 years from the date of issue. If a valid EPC exists when changing tenants, a new EPC certificate will not be required.
No, all properties will be provided with a certificate with a rating on it. A property with an 'A' rating will be more energy efficient than a property with a 'G' rating.
The energy saving trust have estimated that the average property could save over £300 a year on fuel bills related to their property by carrying out the basic recommendation in the EPC.
No, a landlord will not be forced to make changes to their property although it may be advisable as there are tax incentives to do so in the short term and possible benefits in the long term including a higher property valuation both for renting and selling purposes.
Landlords that do not have a valid EPC on any new tenancies that commence on or after 1st October 2008 are at risk of being reported to their local Trading Standards and the Office of Fair Trading. Penalties will include fines between £500 and £5000 and the loss of the right to operate. For letting agents this means they cannot let/advertise the property.
Once a new tenancy commences anytime on or after 1st October 2008.
Greenwood and Company will arrange for an EPC before any new letting commences after the 1st October 2008, the cost of this will vary depending on the size of the property, however the average cost will be between £80 and £120.
"The Ellis Campbell Group outsourced all of its residential property management function to Greenwoods in 1998 and has never looked back. We have a great partner in Greenwoods as they understand our values and know how important these values are to the way in which our portfolio is managed. Alongside their deep understanding of property management issues we therefore have every confidence that our portfolio is in the best hands."