Did you know that it is illegal to market a commercial property for sale or let without a commercial EPC? The penalty is of up to 12.5% of the rateable value of the property, with a minimum of £500 and a maximum of £5,000. This is in addition to the cost of a compliant commercial EPC.
The onus still remains on the seller or landlord to commission the EPC before the property is marketed.
- At present, a seller of a residential property must commission an EPC for the property before it can be marketed, using all reasonable efforts to obtain this with 28 days of marketing the property. From the 6 April 2012 this obligation is now reduced to 7 days of marketing the property.
- It will no longer be possible to include only the asset rating on particulars of sale. The EPC (once it has been obtained) will need to be attached in full.
- If an air conditioning inspection report is required, this will now need to be lodged on the central EPC register. Lodging an air conditioning inspection report on the register may incur a fee.
- Currently Trading Standards Officers (TSO) have the power to request copies of the EPC from the seller or landlord. Under the new guidelines TSO’ will have the ability to request the EPC from and persons acting on behalf of the seller or landlord. e.g. Lettings and Estate Agents.
An improved and redesigned EPC format will also be introduced from 6 April.