Know More About HIPs for Let Properties
Basically, Home Information Packs (HIPs) were first introduced by the Government in December 2007 to speed up the property transaction process. There were some changes announced in December 2008. This included the introduction of a new Property Information Questionnaire that provides a summary of information about the property in one place, helping buyers make decisions about whether to view a property, and ultimately whether to make an offer.
From 6 April 2009 the Government is making some important alterations to the Home Information Pack (HIP) that affects the stage at which it can be purchased. According to the law, an HIP must be in place before the property is marketed. It means that payment must have changed hands before advertising can begin. You must also have the following things in place:
- Property Information Questionnaire (PIC)
- Energy Performance Certificate (EPC) or Predicted Energy Assessment
Landlords must provide Home Information Packs (HIPs) if they are marketing residential property in England or Wales. Our Insurance partners can also provide you with a Home Information Pack fast and at a competitive price. Our Domestic Energy Assessors are accredited to the highest standard. They also offer competitive prices, operate quickly and efficiently. You can also get flexible out of hours and weekend service
Home Information Property (HIP) does not include:
- properties that are limited by law to use as holiday accommodation for occupation for less than 11 months per year
- properties where there is no marketing (e.g. selling to a member of your family)
- non-residential properties
- mixed sales (e.g. shop with flat)
- right to buy and similar sales
- sales of portfolios of properties
- unsafe properties and properties to be demolished
Although you can compile a HIP yourself, the HIP regulations are very complicated. HIP for landlord property can also help you get all the required information on HIP for landlords.