Posts Tagged ‘EPC’

If you’re read the news regarding the new legislation coming into force in 2012 for Energy Performance Certificates (EPCs) and want to get your investment properties up to scratch in advance, then here are some ways in which you can improve the energy efficiency of properties you own.

All energy efficiency improvement work will require time and money, but the effort and pounds are worth it.

Insulate The Loft

According to the Energy Saving Trust, about a third of heat in a badly insulated house goes straight out through the roof. If you have loft insulation put into your property, this will help keep the heat in. What’s more, it will also help save money too. For a three bedroom semi-detached house with central heating and no previous loft insulation, this equates to a saving of about £150 on typical annual energy bills, which is sure to be good news to your tenants.

Good quality loft insulation will last for at least 40 years. On average, the cost of having a loft insulated is about £250.

Insulate Hot Water Pipes

One of the cheapest and easiest ways of improving the energy efficiency of a property is to insulate the hot water pipes. Special insulating material simply needs to be securely wrapped around the exposed pipes.

This costs as little as £10 to do, so even if you do nothing else, do this!

Draught-Proof Your Property

Badly fitting doors and windows are prime culprits for letting heat out of a property. Consider putting in draught-proofing strips or draught excluders along doors or windows, so that the heat that is in the property will be retained.

The average cost of draught-proofing a three bed semi is in the region of £200.

As of 2012, all house sale ads in the UK will have to publish details of energy efficiency ratings.

Currently, anyone selling a property in the UK is required to have an Energy Performance Certificate (EPC) before they put the property on the market. However, even though the EPC is in the pipeline, the full details of how energy efficient a property is aren’t always available for early viewers.

In a bid to get over this issue, and help encourage home owners to become more energy efficient aware, a new EU Directive will come into force in 2012 making it compulsory for all EPC ratings to be published upfront with for sale adverts, so that everyone will know the ratings before they even look at a property.

If you’re thinking of putting one of your investment properties on the market in the next few years, then experts are advising that it’s a good idea to check the energy efficiency of your property now and, if necessary, get energy improvement work done sooner, rather than later.

In addition to improving individual properties, the new legislation will also help the government on its bid to reduce household carbon emissions by 29% by the year 2020.

With a new government finally in power, we’re wondering what new changes they’ll bring to the property world. Details are beginning to emerge about the Coalition Agreement between the Conservatives and Liberal Democrats and the first bit of property-related news is that they’ll be keeping Energy Performance Certificates (EPCs), but scrapping Home Information Packs (HIPs).

The measures out outlined in the Environmental section of the coalition report, where the two parties have agreed to measures that will help promote a ‘low carbon and eco-friendly economy.’ Home Information Pack’s have long been subject to controversy, with mixed views regarding their effectiveness, so it’s not a surprise that they will be going.

Energy Performance Certificates have become a good way of rating how efficient a property is and, with eco-friendly and green issues of key concern, it’s encouraging to see that these will be kept.

Time will tell what other measures the new government have planned that could affect the property industry. In the meantime, the Royal Institute of Chartered Surveys (RICS) are predicting that house prices will continue to rise during the post-election time, despite the fact that there are already a number of properties on the market.

Their latest property survey reveals that property prices and sales both rose during April 2010. The number of new homes being put on the market went up in April and surveyors are said to be optimistic about the property market in the coming months.

Finding and buying the right investment property for your needs may seem like hard work, but it doesn’t stop there. Before you’re able to start renting it out, there are various rules and regulations you need to adhere to and steps you need to take to get it fit for renting. One of these is obtaining an Energy Performance Certificate (EPC).

Energy Performance Certificates became a legal requirement for residential landlords in October 2008. They have to be obtained before you begin marketing your property for rent and, if you fail to do so, then you could end up being fined £200 by Trading Standards.

The Energy Performance Certificate provides a rating about how energy efficient your property is. It uses a rating system from A to G, with A being the most energy efficient, and G the least efficient; the average level is about D. You’ll need to have your property looked at by an energy assessor and, as well as providing your rating and certificate, they will provide ideas for how you can make your property more energy efficient (you don’t have to take these ideas up, but it can be useful if energy efficiency is a concern).

In fact, research suggests that tenants are becoming more concerned about environmental issues, the cost of household bills and the impact a building has on the environment, so the extra advice may help you make practical steps to improve the overall efficiency of your property and make it more desirable to tenants.

Find more about how to go about getting an EPC. Once you’ve obtained your EPC, it’s valid for 10 years and you can take the next step towards advertising your property for let.