We opened our seventh branch in Bury St Edmunds in 2019, finding that we were very much welcomed by Bury St Edmunds council and progressive Landlords and Letting Agents. They were delighted to have another quality solution for tenants.
The recent Zoopla Rental Market Report Q4 2019 key findings – demand is very much outstripping supply:
- Rental demand is still up, with an 8% increase year-on-year. This is putting pressure on a declining property supply, which is down 4% over the last two years.
- Rental price growth is at its highest for over three years, but the relatively stable nature of renter affordability means there’s still room for further increases.
This declining supply is exacerbating the present shortage of appropriate housing. Bury St Edmunds has one of the highest housing shortages already in the UK with the additional demand from USAF. This is only going to be compounded by the its thriving economy. It was one of the strongest growing economies in the UK in 2019 and with significant investment from a number of companies, this is expected to continue far in to the future.
Bury St Edmunds council have a well formulated strategy to combat the housing shortages documented in the Bury St Edmunds Housing Strategy 2018 – 2023
Quality HMO’s are part of the councils strategy, which of course, we are in complete agreement with.
In Bury St Edmunds Housing Strategy, the opening paragraph sets out what they and I’m sure most property investors strive to achieve.
"When we talk about housing, what we are really talking about are people’s homes. They should be a place of sanctuary, a place of comfort, a place of safety and stability where people can live as part of a wider supportive community.”
If they can provide this, they may be able to achieve this:
"Housing also underpins the success and growth of our local economy – without the availability of homes that people can afford, businesses may struggle to attract new employees and to keep the staff that they have.” Bury St Edmunds Housing Strategy 2018 – 2023
This is what an HMO should and can deliver and the Bury St Edmunds council have identified this type of housing as one of their solutions to their present housing shortage.
"Extended licensing of houses in multiple occupation (HMOs) will provide us with more opportunities to be proactive. Well managed HMOs provide much needed, affordable rented accommodation and we use these to relieve pressures from housing demand.” Bury St Edmunds Housing Strategy 2018 – 2023
The HMO sector has evolved hugely from the traditional “bedsit” accommodation, breaking downs the myths with the reality. The high quality HMO, alternative to single occupation living is fast becoming a lifestyle choice.
At ROOMS® our vision is to provide high quality shared accommodation that can become the sanctuary, place of safety and stability that people wish for from their home.
Our home solution is for the worker, the professional in a well paid job. The worker that wants flexibility, room to live, a decent and affordable home.
We are able to provide high quality shared accommodation by working with local Bury St Edmunds Landlords, keen to be part of improving the eco-social environment in their town and proud to offer an excellent home to these professional working people.
Our business only works with the agreement and cooperation of local Landlords and Letting Agents in return for this we offer
- Security of a 3 to 10:year lease,
- Peace of mind maintaining and repairing their properties to the high standards required to attract the discerning working tenant
- Freedom from hassle as we at ROOMS® are fully responsible for finding and managing tenants.
- Guaranteed cashflow ROOMS® guarantee to pay the Landlord the agreed rent.
It’s all contractually written in the lease.
For more information contact Andrew (Branch Manager Bury St Edmunds) – email [email protected] or telephone 07555 598451?
