Bills a 'major factor in rental decisions' - buy to let mortgages

03 October 2008

Energy bills are one of the most important factors that potential tenants take into account when deciding on a rental property, a new report has revealed.

Research from YouGov, commissioned by Communities and Local Government, has found that 79 per cent of renters are concerned about the cost of utility bills.

This issue is the second most important matter that influences people's decisions on where to rent after location, with 22 per cent saying it had an "extreme effect'" on their choice.

It comes after new rules concerning energy performance certificates came into force on October 1st for landlords.

Communities minister Iain Wright remarked that the certificates should be "welcomed by tenants who are looking for more energy efficient rental properties, as well as landlords who are … keen to attract responsible and committed tenants".

Meanwhile, the Royal Institution of Chartered Surveyors recently stated that some investors with buy to let mortgages are taking advantage of falling property prices to capitalise on rising yields.