HIPs confusion ‘floods’ rental market
Posted on 25 June 2007
Buy-to-let landlords are the latest victims of the Home Information Packs (HIPs) fiasco, according to yesterday’s Observer.
The paper says that many who rushed to sell their property before the abandoned 1 June deadline have now decided to let it out, leading to a glut of rental properties and, in some areas, a fall in rents.
In a separate article, the Observer also reports that buy-to-let landlords, who now comprise 11% of the market, are being ‘a bit greedy’ with rents and are struggling to find tenants for some properties.
HIPs are due to be introduced on 1 August for four-bedroom and larger homes. On Saturday, the Guardian reported that they could be introduced for three-bedroom properties from as early as September.
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