EPCs (or less ominously - Energy Performance Certificates) are looming, but what are the facts?

When: 1st October 2008

What: The EPC is a report which consists of two sections: The Environmental Impact Rating and The Energy Efficiency Rating. The Environmental Impact Rating measures your properties CO2 emissions and its respective effect on the environment. Categorised in an easy to read bar chart you will be able to see which grade from A-G (A being the best and G the worst) your property falls in to. The Energy Efficiency Rating quantifies how much energy your property uses and again categorises in the same way from A-G.

Why: The EPC is a requirement of the EU’s Energy Performance of Buildings Directive (EPBD) which was passed in 2003 to be fully enforced in England and Wales by 2009. As you might gather from the its name this directive endeavours to improve the energy efficiency and carbon emissions produced by our buildings by firstly classifying them and then offering advice via a recommendation report including a suggested potential rating. Better energy efficiency also means cheaper fuel costs and happier tenants.

How: There are lots of EPC providers to choose from - some with good feedback and some…not so good. So the team here at Landlord Nanny have done the homework for you and identified what we feel is one of the best providers in the marketplace, teaming up with ERS (Energy Reports and Surveys Ltd). ERS is one of the UK’s largest providers of energy reports having recruited, trained and directly employed over 100 high calibre Domestic Energy Assessors. With a tried and tested infrastructure ERS is a proven service that we are happy to recommend. Click here to find out more…

Summary: So from October the 1st all properties that are marketed for rent, or have tenancy agreements renewed will be legally required to have an EPC compiled. This is to say that any property available for rent (including those available before October 1st) must have an EPC provided free of charge to prospective tenants. EPCs will also be necessary for any property which has a renewed agreement after October 1st, so if this applies to you, why not beat the rush and start making some enquiries?

Recently there has been a huge increase in costs forced onto consumers by energy providers, the latest and possibly the biggest coming from EON, with increases in excess of 20% being pushed onto the consumer.

With these increases, now is a better time than ever to test the market and see if you are getting the best deal for your electricity and gas. Companies like firsthelpline.com offer a market comparison on utilities bills, often helping consumers realising several hundreds of pounds savings annually.

If you have recently had a rate increase in your utility bills (and most of us now have) go and have a look around. The comparison sites will not charge you anything, so spending 10 minutes of your time looking could save you several hundred pounds. Not a bad saving, when the minimum wage is £5.52 - making the potential saving about the same as a full weeks work!

A new Order will come into affect on the 1st October, 2008 requiring all Estate Agents in the UK to belong to an approved redress scheme dealing with complaints when buying or selling residential property.

In the UK there is currently only one redress scheme that is approved by the Office of Fair Trading, and that is the Ombudsmen for Estate Agents (OEA). The Royal Institute of Chartered Surveyors (RICS) is currently seeking approval, but soon Estate Agents who are not currently a member of an approved redress scheme will have to make moves to join.

The OEA currently has over 12,000 members, this equates to approximately 85% of the total number or Residential Estate Agents across the UK. This means there is around another 2000 Estate Agents across the UK who still do not comply with the Order that will come into affect on the 1st October - a little over 2 months away!

The benefits for sellers and purchasers when using an Estate Agent who is a member of the OEA are numerous, but include:

• The Estate Agent has to follow a strict Code of Practice
• The OEA conducts ongoing independent surveys on its members (surveying buyers and sellers) to ensure compliance is being adhered to
• If a complaint is lodged by a consumer the OEA will investigate the claim, and seek resolution. and where appropriate the Ombudsman will make an award for finacial compensation (of up to £25,000)

So, when you are looking to buy or sell make sure your Estate Agent is part of an approved redress scheme, and currently this is only the OEA. If not, you could be compromising your most valuable asset - your home.