Landlords face EPC deadline according to National Homebuyers
Buy-to-let property investors may seek a fast property sale rather than attempt to let their property once new rules surrounding Energy Performance Certificates (EPCs) are introduced.
[UKPRwire, Tue Feb 12 2008] From October 1st, landlords will be required to make an EPC available to perspective tenants.
It means that many renters may turn down a property if it has a poor energy rating.
Clearly this is going to cause problems for many landlords, particularly as many energy performance improvements are extremely expensive.
With this in mind, a large number of buy-to-let property investors may seek a fast property sale in order to avoid the potential costs.
"If two properties are of a similar standard and rent level, then the tenant is likely to choose the property with the better energy efficiency," commented John Heron from Paragon Mortgages.
"Landlords already provide high quality rental accommodation, but if they are looking to make improvements to the energy performance of a property, now is a good opportunity," he added.
Quick house sale expert Julian King of National Homebuyers says, "Those looking to sell their property quickly are advised to consider options away from the open market [estate agency] route.
"As the length of time it takes to sell a property on the open market, due to the lack of available buyers, reaches ten weeks, homeowners will find this an unacceptable period of time".
Mr King is a director of National Homebuyers, the UK's leading quick home sale firm, guaranteeing a fast property sale for vendors who need a quick sale. The company is also the UK leaders in providing mortgage rescue schemes like 'Sell and Rent Back'.