Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.
The exciting development of Osney Mill is well under way, and we cannot wait to see the finished homes. The former flour Mill was destroyed by a fire in the mid-40s, and sat derelict for almost 50 years before planning permission was given for 10 riverside apartments and two houses. Works started in January 2011 and now the four-storey development is nearly completed. We went to visit the site to see how it’s coming along…
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A shrewd developer has taken a different route – instead of selling the three storey houses, they have chosen to let their properties to professional sharers with HMO licences. The furnished double rooms with en-suite showers have been let to individuals from £525 a month including all bills except the phone. Our furnishing company, Decorum Interiors, furnished all six properties with durable, yet stylish, items which appealed to the applicants viewing enabling us to let the properties before the site was finished! The first tenants moved in last Saturday.
February is a month which has been historically quiet in the letting world. A mixture of cold weather and lack of money after the festivities of Christmas mean that people are not looking to move.
This year, in North Oxford, we are seeing a change in this trend. The first week in February has been the busiest in recent history. There has been a wide range of properties which have been let, from a 1 bedroom house in Kidlington at £750 a month to an impressive 4 bedroom Victorian house on the Banbury Road marketed at a rent of £5450 a month.
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On Monday 30th January Frank Webster, Director, appeared no BBC Radio Oxford to discuss the new HMO Licensing in Oxford.
You can listen again by clicking here (Frank Webster was on around 1 hour and 10 minutes into the show), or see below:
Today is the day that landlords in Oxford have to register if they want to let their property out as a house share. The city council have introduced new licences for Houses of Multiple Occupancy (HMOs). Last year they started the roll-out and asked landlords of larger properties to register and over 900 have done that. Today everyone else must register and the city council think that will include another 4000 properties. Frank Webster is from the letting specialists Finders Keepers and joins me now.
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What a week in Banbury with lots of property management highs, but also some lows. It really has been frantic with all sorts of issues to deal with; some mundane, others more unusual. From rats chewing through washing machine hoses to fences blowing down in the wind and leaking overflows…the list goes on.
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The property was the first to be completed on a development that will comprise of more than 1,500 homes, two schools and local shops. We have had an influx of applicants looking to rent in Kingsmere, and we hope to be instructed on many more properties on the development shortly. So if you’re an investor looking for a good return then why not call us today?
Many people talk about ‘portfolio management’, but at Finders Keepers we have been delivering robust Property Portfolio Management services to private residential landlords, commercial developers and institutional landlords throughout Oxfordshire for decades. Our activity spans the entire management process from identifying new property investments through to letting, managing and (when required) advising on disposals and handling sales.
“We have always acted for clients with large portfolios right from our inception,” said Frank Webster, who during the past +25 years, has focused his efforts on this specialist approach.
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