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Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.
As with many things in life, you get what you pay for and ‘cheap’ is not often associated with ‘good service’. We totally understand why a landlord would be tempted by an agent claiming to offer the same level of service for a cheaper price – we’ve been lured in by attractive pricing ourselves.
Quarter 2 (April, May and June) sees the annual letting wave build towards its peak of the summer months. In general terms, this means there is more variety and fewer ‘trends’ in terms of what lets best and who is renting in Oxfordshire – over the last three months we have let more than 600 properties across the county and these have ranged from 1 bedroom annexes in the grounds of the owner’s home up to 7 bedroom houses. However, there have been ripples of difference across our eight offices.
Sometimes things can go wrong when letting property – it would be naïve to think it will be smooth sailing 100% of the time – but how you deal with these situations is the true measure of success. Our Abingdon team recently demonstrated their calm, decisive expertise when a tenant vacated a property without warning. The Property Manager and Letting Specialist – both based locally to the property – worked together to get the property back to standard, relist it and let it within a week.
Overall we have had a positive start to 2018, although across our eight offices it is apparent there is an overall air of caution in the market. We have been proactive in advising our clients on rent and presentation of their properties in the current market and we are still successfully letting homes across the county. As the Japanese proverb says, “The bamboo that bends is stronger than the oak that resists” and the most success has been achieved where landlords have been flexible to meet current demand.
The peak time to let your property is between May and August. Get your property on the market now.
With the long weekend ahead of us, it’s time to think about what activities are available for our families this Easter. Whether there is rain or shine, here are our favourite events coming up.
The Minimum Energy Efficiency Standards (MEES) were introduced in March 2015 with the aim of improving the energy efficiency of privately rented properties. From 1st April 2018 all buildings in England or Wales will need to have a rating of A-E on their Energy Performance Certificate (EPC) before they can be rented (this applies to new tenancies and renewals of tenancies) and from 1st April 2020 all existing tenancies will need to have a grade of A-E (there are limited exemptions, such as some listed buildings or very short lets). After these deadlines it will be unlawful to rent a property which breaches the requirement for a minimum E rating, which carries a penalty of up to £5,000.
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© Finders Keepers Ltd. 2018