What REALTORS® Should Know:
New Energy Disclosure Report required by the City of Minneapolis
Starting January 15, 2020, the City of Minneapolis will include a new energy disclosure report in the Truth-in-Sale of Housing (TISH) program. The two-page ‘Asset-Based Energy Efficiency’ report will be part of the set of returned documents from the TISH inspection. The energy disclosure report will be based on four criteria: attic insulation, wall insulation, heating system, and window efficiency. Using these criteria, homes will be rated on a 0 to 100-point scale with 100 being the best. The report also will prioritize recommended improvements based on a maximum 10-year window of return on investment. No repairs will be required.
What is new?
- New Asset-Based Energy Efficiency Report will be added to the TISH Report starting on January 15, 2020
- Homes will be scored on a 0 to 100-point scale (100 being best) based on four criteria:
- Wall insulation (2” diameter drill hole on pre-1980 built homes only)
- Attic insulation (number of inches/R Value)
- Heating system (age & type)
- Window efficiency (type & value)
- Homeowners who have had an Energy Audit or other recognized certification in the past 5 years will not be required to order the Asset-Based Energy Efficiency Report.
What is staying the same?
- The process for homeowners ordering a TISH inspection remains the same.
- The TISH Report is required for listing Minneapolis property (single family, duplex, townhomes, and first-time condo conversions) must be on display and made available during open houses.
- The green editing fields on MLS remain the same.
What REALTORS® can do to inform consumers:
- Before listing the house, develop a plan for informing consumers about the new energy disclosure report
- After TISH Report comes back, explain energy disclosure report, including the score and recommended repairs
- Firm up list of relevant contractors to refer to consumers for repairs. Decisions are up to the homeowner; no repairs are required.
For more information, contact Eric Myers, Government Affairs Director at email@example.com or 952.988.3124