Figures recently released by Oxford City Council about the private rental market reveal that more households in the city rent a property than own their own home. Over the last 30 years, the number of households living in private rented accommodation has almost doubled from 16% to 28%.
Statistics also revealed that within the private rented property sector, HMOs (Houses in Multiple Occupation) have significantly increased over the last six years and now currently make up 44% of rented property available in Oxford.
Oxford City Council is currently reviewing HMO procedures including licencing which, if implemented, may be beneficial to landlords who complete the process correctly and on time.
If you are a landlord with a suitable property for HMO, as an accredited estate agent, Chancellors can guide and advise you through the HMO legislation and procedures. For more information, contact one of our Oxford branches below:
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
