The Importance of EPC Reports for your property
The environment is something that has grown on the national consciousness over the last few years. We have all become aware of measures the government is taking to lower our ‘carbon footprint’ in accordance with the Kyoto Protocols. One lesser-known measure is the introduction of Energy Performance Certificates EPC. These are just as vital to rental property as a check out report or tenancy agreement. They also apply to new build houses and properties being sold.
An EPC is issued by a trained assessor known as a Domestic Energy Assessor. The assessor will produce a report on a given property that will grade its energy efficiency from band A to G. A is highly efficient and G is the opposite. The report will also comment on the potential energy efficiency of a property and make recommendations as to how this might be improved. Common recommendations include fitting loft insulation, installing double-glazed windows or replacing old and decrepit heating systems. Now, these replacements can often be expensive. You might well be entitled to ask ‘what do I have to gain?’.
One thing that even the most hardened climate change sceptic may be interested in is saving money. Obviously, this saving has to be balanced against the initial outlay of carrying out the necessary building work. The key thing to remember here is the volatile cost of energy. The report will use contemporary energy prices to calculate any potential saving. However, in a world of increasing demand and environmental consciousness it is highly unlikely that prices will fall. In all likelihood the savings you make by installing the EPC report’s recommendations will be greatly magnified because prices will continue to rise sharply. In addition, improving the energy efficiency of your property will also have a positive effect on its value.
In conclusion, if you are a landlord, then having an EPC is as vital to your property portfolio as utilising professional Inventory services. If you are a homeowner the EPC report can help you to partially insure yourself against an unsure energy future.