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."

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

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

In this episode, Nick takes a look at the UK's Energy Performance of Buildings Regulations (EPBR) and their implications for property owners and developers. He explains the importance of energy performance certificates (EPCs) and energy performance assessments (EPAs), highlighting the minimum energy efficiency standards (MEES) that new buildings must meet. Nick discusses the benefits of improving energy efficiency, such as reducing carbon emissions, lowering energy costs, and creating healthier living environments. He also outlines various government incentives and schemes aimed at encouraging energy-efficient upgrades, particularly for low-income households.

KEY TAKEAWAYS

• The EPBR sets minimum energy efficiency standards for both new and existing buildings in the UK, requiring energy performance certificates (EPCs) for properties being sold or rented.

• New buildings must meet specific MEES to ensure energy efficiency, which includes undergoing an energy performance assessment (EPA) to determine their energy efficiency rating.

• Properties with an EPC rating below E are required to undertake measures to improve their energy performance, with future regulations aiming for a minimum rating of C for rental properties.

• Various government schemes, such as the Warm Homes Local Grant and the Boiler Upgrade Scheme, provide financial support for improving energy efficiency in homes, particularly for low-income households.

• Enhancing energy efficiency not only reduces carbon emissions and energy costs but also creates healthier living environments for tenants, potentially increasing property values and tenant satisfaction.

BEST MOMENTS

"The UK's primary legislation is the Energy Performance of Buildings Regulations. It sets out standards for the energy performance of both new and existing buildings."

"Buildings with an EPC rating below E are subject to energy efficiency improvement obligations requiring them to undertake measures to improve their energy performance."

"I have my own views on electric boilers. I don't think they're as good as gas boilers yet. I think there's a long way to go."

"EPCs play a crucial role in promoting energy efficient buildings and reducing greenhouse gas emissions."

"Let's embrace these EPCs. It's something that we can use to see what improvements we need."

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

Nick explores the future of Energy Performance Certificates (EPCs) and the upcoming changes in energy assessment methodologies. He discusses the current RDSAP 2012 version and the anticipated RDSAP 10, which is set to introduce a more rigorous assessment process by early 2025. Nick explains the transition to the Home Energy Model Future Home Standard, which aims to replace EPCs and align with the UK's climate goals. He highlights the importance of modernising the assessment methodology to reflect current political and technological landscapes, emphasising the need for transparency and adaptability in energy assessments. The episode provides insights into the implications of these changes for property owners, tenants, and the energy assessment industry, while also addressing the potential impact of new technologies like AI on the implementation timeline.

KEY TAKEAWAYS

1. Transition from RDSAP to Home Energy Model: The current methodology for energy performance certificates (EPCs) is RDSAP 2012 version 9.94, but plans are in place to transition to RDSAP 10 by early 2025, followed by the introduction of the Home Energy Model Future Home Standard, which will replace EPCs.

2. Increased Data Requirements: RDSAP 10 will require more detailed assessments, including measuring all windows and open fireplaces, leading to potentially higher costs for obtaining an EPC due to the increased workload for assessors.

3. Government Commitment: All major political parties have expressed commitment to the Home Energy Model project, which is designed to align with the UK's climate policies and the legally binding Paris Agreement.

4. Modernisation of Methodology: The Home Energy Model aims to create a more robust and accurate assessment methodology that reflects current political and technological conditions, moving away from the simpler, outdated methods of the past.

5. Flexibility and Specific Use Cases: The new methodology will allow for different standardised assumptions and the ability to update specific use cases independently, catering to various scenarios such as rental properties, sales, and new builds, enhancing clarity and accountability in energy assessments.

BEST MOMENTS

"Currently the methodology used is RDSAP 2012 version, I think we're on to version 9.94, which has been around for a long, long time."

"The Home Energy Model is a government calculation designed to assess the energy performance of houses across the United Kingdom."

"It's got big implications to the energy industry... the key aim of the project to modernise the relevant methodology in order to mirror the prevailing political and technological conditions in the UK."

"I'm a little bit sceptical on whether it's a complete overhaul, but, you know, these are my personal thoughts."

"EPCs are here to stay. They've all stated the fact that they're standing behind this. They want EPCs to stay."

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 of Efficiency and Property Investing, Nick delves into the significance of Energy Performance Certificates (EPCs) and Energy Performance Assessments (EPAs) in the context of international climate agreements. Nick traces the origins of these measures back to the Kyoto Protocol and discusses the UK's commitment to reducing greenhouse gas emissions, particularly through the Paris Agreement. Nick highlights the ambitious targets set by the UK, including achieving net zero emissions by 2050 and an 88% reduction in emissions by 2030.

KEY TAKEAWAYS

1. International Climate Agreements: The Kyoto Protocol, established in 1997, was a significant milestone in global efforts to combat climate change, setting legally binding emission reduction targets for developed countries, including the UK.

2. UK's Commitment to Climate Action: The UK has set ambitious targets to achieve net-zero greenhouse gas emissions by 2050, including an 88% reduction in emissions by 2030 compared to 1990 levels.

3. COP28 Outcomes: The COP28 climate summit established a loss and damage fund to assist developing countries affected by climate change and emphasized the need for urgent action to meet the goals of the Paris Agreement.

4. Investment in Renewable Energy: The UK is heavily investing in renewable energy sources, such as wind and solar power, and is phasing out fossil fuels. This includes plans to end the sale of new petrol and diesel cars by 2030 and to build new nuclear power stations.

5. Stricter Energy Performance Standards: The UK government is implementing stricter energy performance standards for buildings and homes, which will increase pressure on developers and landlords to improve energy efficiency.

BEST MOMENTS

"The Kyoto Protocol has actually expired now, but it's been overtaken by the Paris Agreement, which I'll come to in a minute."

"The Paris Agreement represents a significant step forward in global efforts to address climate change."

"The establishment of the Loss and Damage Fund was a major achievement and the focus on adaptation and climate finance has demonstrated a growing recognition of the need to support developing countries."

"The UK aims to reduce its emissions to as low as possible or close to zero as possible with any remaining emissions offset by carbon removal technology."

"Stricter EPCs, stricter building standards. The pressure will increase on developers and landlords to make their properties more energy efficient."

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

Nick shares the essential legal requirements for managing rental properties. Building on a previous episode, he outlines critical health and safety regulations, including the necessity of annual gas safety checks, electrical installation condition reports and fire safety compliance. Nick emphasises the importance of deposit protection, right to rent checks and maintaining a valid Energy Performance Certificate (EPC). He also discusses the significance of conducting a legionella risk assessment and providing tenants with the government's "How to Rent" guide. Additionally, the episode covers local authority licensing schemes, data protection registration, and the potential future requirement for private landlords to join a redress scheme. With practical advice and insights, this episode aims to equip landlords with the knowledge needed to navigate the complexities of property management effectively.

KEY TAKEAWAYS

1. Legal Requirements for Landlords: Landlords must ensure compliance with various legal obligations, including conducting annual gas safety checks, obtaining electrical installation condition reports (EICR) every five years, and adhering to fire safety regulations, such as installing smoke and carbon monoxide alarms.

2. Deposit Protection: It is essential to protect tenant deposits by placing them in a government-approved scheme (e.g., DPS, My Deposits, or TDS) and providing tenants with the necessary prescribed information.

3. Energy Performance Certificate (EPC): Landlords are required to have a valid EPC for their properties, which must meet at least an E rating. This is expected to change to a C rating by 2030, so proactive improvements to energy efficiency are encouraged.

4. Data Protection Compliance: Landlords must register with the Information Commissioner's Office (ICO) and pay a data protection fee due to the General Data Protection Regulations (GDPR). This includes having a data protection policy and undergoing annual training.

5. Redress Scheme Membership: While not currently mandatory for private landlords managing their own properties, membership in a redress scheme (e.g., The Property Ombudsman or the Property Redress Scheme) is advisable. Upcoming legislation may make this requirement mandatory, providing tenants with access to dispute resolution services and helping to maintain high standards in the rental sector.

BEST MOMENTS

"The first thing you need to look at is an annual gas safety check carried out by a gas safe registered engineer."

"You must ensure all your electrical installations are safe. This means having an electrical installation condition report, known as an EICR."

"You need to have smoke alarms on each floor... and CO2 alarms where necessary, which means where you have a fossil fuel fired appliance."

"In England, you must conduct a right to rent checks to ensure that tenants have the legal right to reside in the UK."

"The government is planning to make redress scheme membership mandatory for all private landlords in England, regardless of whether they use letting agents or not."

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 delves into the essential knowledge required for managing your own rental properties. He outlines the legal responsibilities landlords must understand, including key legislation in England, Wales, Scotland, and Northern Ireland, as well as the importance of using legally sound tenancy agreements and deposit protection schemes. Nick also discusses safety regulations, tenant management, financial management, and the necessity of maintaining accurate records.

KEY TAKEAWAYS

• Familiarise yourself with landlord and tenant laws specific to your region, including the Housing Act 1988 for England and Wales, the Private Housing Tenancies (Scotland) Act 2016, and the Private Tenancies (Northern Ireland) Order 2006.

• Ensure compliance with safety regulations, including annual gas safety checks, electrical safety inspections (EICR every five years), and fire safety measures such as smoke and CO2 alarms.

• Implement a robust tenant referencing process, maintain clear communication, and establish a clear rent collection process. Be prepared to handle tenant complaints and understand the legal eviction process.

• Create a budget for your rental property, keep accurate records of income and expenses for tax purposes, and understand your tax obligations as a landlord, including income tax and capital gains tax.

• Keep up to date with changes in landlord and tenant legislation, such as the upcoming Renters Reform Bill, and seek professional advice when needed to ensure compliance and effective property management.

BEST MOMENTS

"Familiarise yourself with the key legislation governing tenancies in England and Wales. So it's a Housing Act 1988 with various amendments."

"You need to implement a robust tenant referencing process including credit checks, previous landlord references, employment checks and right to rent in the UK."

"It's a significant commitment to time and effort, and it's not for everyone."

"You need to keep up to date with changes in Landlord and Tenant Law and other relevant regulations."

"If you're unsure about any of these, seek professional advice from a solicitor, accountant, or any other relevant experts."

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.