Posts with tag: renting in Oxford

Letting Agency Fined £8,000 for HMO Breach

Published On: July 1, 2015 at 9:54 am

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Letting Agency Fined £8,000 for HMO Breach

Letting Agency Fined £8,000 for HMO Breach

A letting agency in Oxford has been ordered to pay fines totalling £7,000 and costs of £1,140 after the City Council took it to court over an unlicensed and unsafe House in Multiple Occupation (HMO).

The Letting Centre Oxford Ltd., based in the suburb of Headington, was prosecuted after environmental health officers discovered that it was managing an HMO that was unlicensed and did not comply with fire safety regulations.

Officers from Oxford City Council inspected the property in November 2014, which confirmed suspicions that it was unlicensed and unsafe. The house had a missing fire door and locks that would stop occupants escaping in the event of a fire.

Director of The Letting Centre Oxford Ltd., Darren Hazell, pleaded guilty to being in control of an unlicensed HMO and was handed a fine of £5,000 for failing to obtain a license. He also admitted to one breach of the Management of Houses in Multiple Occupation (England) Regulations 2006 and received a fine of £2,000.

Additionally, the court ordered the agency to pay the Council’s full costs of £1,140 for bringing the case to court.

An Oxford City Council spokesperson says: “The City Council requires all HMOs to be licensed in order to raise standards in properties as well as their management. We will take action against landlords who fail to comply with legal requirements to license and maintain HMOs to acceptable standards.”1

1 https://www.lettingagenttoday.co.uk/breaking-news/2015/6/letting-agency-must-pay-over-8-000-after-hmo-breach

 

 

 

 

 

 

 

 

 

Buy to Let in Oxford for Strong Demand

Published On: June 20, 2015 at 10:11 am

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Demand for rental property in Oxford is extremely strong, especially from young professionals. The area is a great place for buying to let.

As well as the universities, Oxford homes many medical institutions, where high numbers of academics and medics are on placements or temporary contracts.

Buy to Let in Oxford for Strong Demand

Buy to Let in Oxford for Strong Demand

Letting agents claim that demand is so strong that prospective tenants sometimes queue outside on the street so that they get the first pick of new properties.

Licenses

Private rental sector housing that is occupied by three or more people (including children) and forms two or more households requires a license. Houses with two occupants do not need a license.

Where to invest

East Oxford, also called Cowley, is becoming more popular. The area is walking distance from the city centre and has smaller but affordable Victorian terraces. These charming homes provide better investments than properties in areas such as Jericho and North Oxford, where prices near seven figures.

Cowley is a cosmopolitan place with an eclectic mix of people and amenities, including nice pubs and restaurants. Traditionally, it was full of students, but now, professionals are moving into the area.

Cheaper properties can be found just outside Cowley in Littlemore.

Property prices

A one-bedroom apartment in Cowley costs around £250,000 with three-bedroom houses priced at over £450,000.

In Littlemore, one-bedroom flats go for about £200,000 and command a monthly rent of £850. A three-bedroom house costs around £280,000, for rent of £1,100 per month.