The year has started off with a buzz and I have had the busiest February and March since I started my business in 2006. In the rental property market there is no way to predict how business is going to go. I have looked back over the years and there is not one year that I can use as a comparison, and I am not complaining.
The new builds have had an impact on the rental market with many tenants buying their first home through relevant government schemes such as the Help to buy or the Shared ownership scheme, and not all of them good in my book. Take the shared ownership for example, they all have a monthly service charge built into them ranging from £29.00 pcm with the most that I have seen locally at £65.00 pcm. This amount can and will go up each year, and some new homeowners who I have spoken to do not realise this.
Recent employment levels have risen and so has enquiries for rental properties from those relocating to the area. Enquiries are from people just wanting to rent a room Monday to Friday to the relocation of the whole family. Banbury is still the area of choice for people wanting to rent with its excellent connections to road and rail.
Please be aware that I do not hold CMP insurance as I do not hold client’s money and all tenants deposits are held with the Deposit Protection Service.