Oxford City Council (10 St. Ebbes Street, Oxford, OX1 1PT) has approved plans to restrict the number of Houses on Multiple Occupation (HMOs) in a decision made last Monday.
The news might be discouraging for many buy-to-let investors wanting to purchase properties in Oxford; buyers are urged to communicate their intentions to their Oxford Conveyancing Solicitor so that matters can be investigated beforehand to avoid being disappointed after the transaction has completed.
Labour councillor Colin Cook said the regulations would prevent areas "going to rack and ruin. "
From February 2012 only one in every five houses on any 100m (328ft) stretch of road will be allowed to be HMOs. The council decided to implement these rules because certain areas of the city had developed a high concentration of HMO properties.
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Mr Cook, who is responsible for city development, said: "We're trying to keep the right balance and not let one particular market get an advantage. ”
"In areas with too many HMOs you find houses and gardens aren't looked after, there's a loss of family housing in an area and it can put schools in trouble in terms of recruiting numbers. "
What if I am buying a property that is already licensed?
If you are purchasing a home that is already licensed as an HMO, it does not necessarily mean that you will also be granted a license as they are non-transferable. The Solicitor handling your Conveyancing in Oxford will have to check with the planning department at Oxford Council to find out what the likelihood of the property being granted permission is.
Oxford suffers from an acute shortage of housing, with a high level of demand for both owner-occupied and rented accommodation. However, demand for different tenures of housing varies across the city, with some areas prone to higher demands for shared rental housing.
This creates a situation where family dwellings are frequently converted into shared rented properties, leading to a shortfall in family accommodation and an unbalanced housing mix. High concentrations of shared houses can have an adverse impact on local areas and communities.
If you are selling a home in Oxford, it is also important for your Oxford Conveyancing Solicitor to inform potential buyers of the new planning controls before marketing your home as a specific dwelling type.
If you are moving homes in Oxford and are unsure of how this information can affect you, contact Fridaysmove on 0330 660 0286 to instruct an experienced Oxford Conveyancing Solicitor to assist you with your queries and concerns.