EPC Expense Overview
For those selling or leasing properties, an Energy Performance Certificate, or EPC, is a requirement. This guide looks into the typical costs associated with EPCs and their advantages.
Topics in this guide:
- Cost of an energy performance certificate
- EPC expense details
- Factors influencing EPC cost
- Additional costs for EPC ratings
- Advantages of EPC ratings
- Summary of EPC pricing
Cost of an Energy Performance Certificate
An EPC offers insights into a property’s energy use and typical costs, along with tips to enhance efficiency. Typically valid for a decade, let’s explore the cost for a new EPC.
EPC Expense Details
The cost for an EPC usually ranges from £55 to £120, increasing for larger properties or those in more costly locations.
Factors Affecting EPC Cost
Breakdown of costs and averages:
|EPC||£55 – £120|
|Penalty for No EPC||£200|
|Max Cost for Band E Upgrade||£3,500|
|Penalty for Band E Non-Compliance||£4,000|
These are average cost estimates. Contact a local professional for a precise quote.
Factors impacting EPC prices include:
- Type of property
- Number of bedrooms
Varying costs among assessors necessitate comparing quotes to ensure the best price. Verify assessor registration on the EPC register.
Additional EPC Rating Costs
If your EPC rates your property as E grade or above, no further costs are necessary for ten years, unless you opt for energy improvements. However, properties rented out must meet the Minimum Energy Efficiency Standards, requiring at least an E grade. Non-compliance could lead to a maximum expenditure of £3,500 to upgrade the property, or applying for an exemption if improvements exceed this cost. Failing to meet standards without exemption can result in fines up to £4,000. Not arranging an EPC may also result in £200 fines.
EPC Rating Benefits
Obtaining an EPC, though seemingly costly, offers several advantages:
- Assisting tenants or buyers in making informed decisions.
- Guidance on improving property efficiency.
- Potential reduction in bill costs through identified improvements.
- Enhancing property appeal through increased efficiency.
EPC Price Summary
EPCs are a legal requirement for sellers and landlords, with non-compliance leading to fines up to £200. Costs range from £55 to £120, varying by factors like property size. EPCs are valid for ten years, with landlords mandated to achieve at least an E grade.