Landlords increasing the number of family homes

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Landlords in Oxford are increasingly looking to convert Houses of Multiple Occupations (HMOs) into family homes, according to a new survey.

A study carried out by Oxford City Council canvassed the views of 30 landlords across the area and found that one third of these were amending the use of their properties for family use, The Oxford Times reports.

It is part of a scheme that was brought in during 2011 and enforces compulsory licensing of all HMOs meaning that landlords leasing properties to groups of three or more students need to have a licence, undergo regular inspections and pay a fee of at least £362.

Councillor Ed Turner, the executive member for finance, told the source: “Clearly some landlords will be unhappy with the scheme, but our view is we need to raise standards of properties and management and we see no evidence of a mass exodus of landlords.”

2013 is set to be a busy year for landlords with figures from a Mortgages for Business survey revealing that 55 per cent of property leasers are aiming to expand their portfolio.

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25th January 2013