In this episode, Nick provides a comprehensive overview of what to expect during an Energy Performance Certificate (EPC) assessment for your property. He discusses how to find a qualified energy assessor, the typical costs associated with the assessment, and the various factors that assessors evaluate, such as building construction, heating systems, insulation, and energy-efficient fixtures. Nick stresses the importance of having proper documentation and evidence to support the assessment, including invoices and photographs of energy-saving installations. He also highlights the significance of EPC ratings for landlords, covering legal requirements, tenant attraction, potential rental income, and property value.

KEY TAKEAWAYS

• To locate a qualified energy assessor, use the government website by typing "Find an Energy Assessor" along with your postcode. Expect costs to range from £40 to £80 depending on the property size.

• The energy assessor will conduct a site visit lasting approximately 30 minutes to an hour, inspecting various aspects of the property, including construction type, heating systems, insulation, and windows.

• Homeowners should have documentation ready, such as invoices and photographs of any energy-efficient upgrades or insulation work done, as this evidence is crucial for accurate assessment and rating.

• The Energy Performance Certificate (EPC) rates properties on a scale from A to G, with recommendations provided for improvements. These recommendations should be followed in a specific sequence to enhance the property's energy efficiency.

• EPCs are legally required for rental properties, with a minimum rating of E currently, moving to C by 2030. Higher EPC ratings can attract better tenants, increase rental income, and improve property value, while also demonstrating environmental responsibility.

BEST MOMENTS

"The best way, or the recommended way, is to go on the government website. If you type in Find an Energy Assessor, and type in your postcode, it will come up with a list of local assessors."

"As I said, they're looking to see if it's a solid floor or a suspended floor. They'll have a look at the heating and cooling systems."

"If you have an installation done, you know, make sure your invoice states we've installed x type of insulation under your floor."

"EPCs score between 1 to 100 with 1 being the lowest and 100 being the highest and it goes from G, E, F etc up to A."

"EPC ratings are important for landlords because they are legally required, can attract tenants, increase rental income, reduce energy costs, and improve property value."

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HOST BIO

Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations.

He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems.

Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business

Today, Nick discusses the upcoming launch of RD SAP 10, a significant update to the UK's Reduced Data Standard Assessment Procedure (RDSAP) for Energy Performance Certificates (EPCs). Set to launch on June 15th, RD SAP 10 introduces approximately 30 changes aimed at improving the accuracy and relevance of EPCs for existing homes. Nick highlights key updates, including the inclusion of new technologies like battery storage and small-scale hydro, enhanced data collection methods, and more detailed assessments of windows and roof rooms.

KEY TAKEAWAYS

• The RD SAP 10, launching on June 15, is a significant update to the UK's Reduced Data Standard Assessment Procedure (RDSAP) for measuring Energy Performance Certificates (EPCs) for existing homes, aimed at improving accuracy and relevance.

• The new method requires more detailed measurements, including the precise counting of windows and the assessment of roof rooms, which will lead to more accurate EPC ratings.

• RD SAP 10 will allow for the inclusion of various energy technologies such as battery storage, photovoltaic diverters, and small-scale hydro, reflecting their growing presence in UK homes and improving the assessment of energy efficiency.

• The updated EPCs will provide clearer and more tailored recommendations for energy improvements, including a push for heat pumps in well-insulated properties, aligning with the UK's low carbon heating solutions.

• Assessors will face increased workloads due to the new requirements, which may lead to higher costs for landlords as assessors charge more for their services. This change is expected to affect the availability of assessors in the market.

BEST MOMENTS

"RDSAP 10 is coming in. This is the most significant update to the UK's reduced data standard assessment procedure in over a decade."

"Now it'll allow you to put in the type of battery storage, PV diverters, and small scale hydro, providing a more accurate picture of properties' energy efficiency."

"The problem I have with that, air source heat pumps, they're not as efficient as ground source heat pumps."

"There's going to be an increase in the cost of the EPC assessment. Assessors are going to have to charge you more because they're spending more time doing it."

"I appreciate that some people don't believe in climate change, but I think there's definitely something happening."

The UK’s #1 Property Investing Event – MSOPI Training

https://bit.ly/3FqcL4l

The UK’s #1 Property Investing Event – MSOPI Training London

https://bit.ly/4isD2xs

HOST BIO

Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations.

He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems.

Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business

In this episode, Nick takes a look at the distinctions between Energy Performance Assessments (EPA) and Retrofit Energy Performance Assessments (REPA). He explains that while both assessments evaluate a building's energy performance, the EPA offers a standardised energy rating with general recommendations, whereas the REPA provides a more comprehensive analysis tailored to a building's unique characteristics. Nick highlights the benefits of conducting a REPA, including detailed recommendations for energy efficiency upgrades, cost-benefit analyses, and potential funding options. He emphasises the importance of these assessments in improving energy efficiency, reducing carbon footprints, and enhancing indoor comfort, ultimately leading to better rental income and property value.

KEY TAKEAWAYS

• An Energy Performance Assessment (EPA) provides a standardised energy rating and general recommendations for improving energy efficiency, while a Retrofit Energy Performance Assessment (REPA) offers a more detailed evaluation, identifying specific retrofit measures tailored to a building's unique characteristics.
• The REPA involves a thorough inspection of the building's structure, systems, and energy consumption, utilising software tools for modeling energy use, which goes beyond the standard EPA assessment.
• A key component of the REPA is the cost-benefit analysis, which evaluates potential savings and environmental benefits of various retrofit measures, helping property owners prioritise improvements based on feasibility and impact.
• Conducting a REPA can lead to reduced energy consumption and bills, improved indoor comfort and air quality, compliance with regulations, and potentially higher property values and rental income.
• It is crucial to engage specifically trained retrofit assessors and coordinators for a REPA, as they provide in-depth analysis and tailored recommendations that standard EPA assessors may not offer.

BEST MOMENTS

"The EPA, which produces the EPC, provides a standardised energy rating for your building. It's quite a simple assessment."

"A retrofit energy performance assessment or REPA is to identify specific retrofit measures to improve a building's energy efficiency."

"The REPA delves deeper into the building's specific needs and offers tailored recommendations for energy efficiency improvements."

"Energy efficiency homes can actually attract better money when you sell them and also possibly improve rental income."

"If you've got a property that is below a C, it’s an investment into the future of that property."

The UK’s #1 Property Investing Event – MSOPI Training

https://bit.ly/3FqcL4l

The UK’s #1 Property Investing Event – MSOPI Training London

https://bit.ly/4isD2xs

HOST BIO

Nick is an award winning property investor, voted Fastest Newcomer 2022 by Premier Property, and is an accredited Retrofit EPC Assessor. He sources and renovates properties for himself as well as other investors. While doing this he has developed his own systems for efficient investment, such as developing his own methods to save time when viewing properties and estimating market values and potential returns, costing out renovations.

He spends three months of the year abroad and while there continues his business with use of modern technology and his proven systems.

Location freedom has always been his "Why" for being a Property Investment and has now reached his ideal of the colder months spent in Thailand and the rest of the time in the UK, all while continuing to run his business