It's been a testing time for landlords over the past few years. But Banbury has much in its favour for those looking to invest for the first time or bolster their existing portfolios.
Here are just a few reasons...
* Desirable M40 corridor location
* High speed rail links to London and Birmingham
* On the edge of the glorious Cotswolds
* Low unemployment / investment in business
* Regeneration / creation of retail and leisure facilities
THE LANDLORD CHALLENGE
It is true that the challenges facing landlords in 2019 are increasing and have been much publicised. Taxation rules, increasing health and safety legislation, money laundering and immigration regulations and the tightening of HMO licensing are just a few areas in which buy-to-let has changed over the past five years.
Landlords such as yourself have been made accountable for the actions of a disruptive minority. But rooting out those 'bad eggs' will benefit the private rental sector in the long term.
BANBURY NOW AND BANBURY FUTURE
Tenant behaviour has changed and continues to do so. In a sales and rental market underpinned by Brexit uncertainty, we've seen a slowing in both areas.
It has taken longer to secure good quality tenants for rentals that previously would have let within three viewings.
An end to the uncertainty surrounding the UK's European Union exit should help kickstart the market as we move through 2019, while landlords willing and able to adapt to regulation changes should still see a solid return on their investments in a rental market with fewer rogues and greater transparency.
Yield and capital growth potential for landlords is still very much achievable, particularly in Banbury where high employment, investment and location are attractive to renters or commuters to London and Birmingham.
But navigating through legislation changes, including the forthcoming tenant fee ban, means securing great tenants is key if landlords wish to avoid added headaches and potentially increased costs.
This can help avoid:
* Mid-tenancy departures by transient tenants not held back by fees
* Tenants sitting tight and waiting for an eviction notice
Banbury is a great place to invest currently because of:
* Regeneration and building of retail and employment hubs
* Central UK position with fast rail access to the 'Big Two' cities
* High employment and retention rates
* Boost in new home construction will pull up prices of existing properties
THE BENEFITS OF AN AGENT IN 2019
Having a good, forward-thinking and positive agent working in tandem will be key for landlords this year.
Good tenants are likely to flood into the agency renting environment as they seek to take advantage of a fee-free professional lettings service. That will leave those tenants with a poor rental history or bad referencing potential in the private ad-only sector.
Our high-footfall modern offices in the Castle Quay Shopping Centre and extensive local knowledge help us pin down and appeal to those good tenants who are looking for top-quality, professional service from an agent.
Martin & Co manager Liam Slaughter's experience and expertise in the Banbury area mean his team can provide key advice to ease any uncertainty.The coming months for landlords will be about how effectively these bumps in the road are navigated and we are in place to make that journey as smooth as possible.