An additional cost to owning multiple properties that has gained significance is one of energy efficiency.
The National Landlords Association (NLA) recommends that landlords should invest in energy efficiency as soon as possible, before new regulations force them their hand.
From October 2008, all rental property investments must have an Energy Performance Certificate (EPC), and the NLA has said that despite the initial costs involved with making eco-friendly changes, landlords should see a positive boost in rent, whilst improving quality of life for tenants.
Many landlords have already taken the extra step to prove their green credentials, but in a slow market, where rental prices increased by just 1.8%, some landlords may be reluctant to make the change until next October.
David Salusbury, NLA chairman, said: “The NLA and its members have long been committed to improving the quality of rented accommodation.”
“They know that an energy efficient property makes good business sense because it will be more appealing to tenants, will command a premium rent and also help save the planet,” he added.
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