COVID-19 briefing: May, week 4

dbaranowski

Last week, the 'reopening' of the real estate industry dominated the headlines. Over the last few days, the initial celebration died down as we saw tenants, landlords, and firms express safety concerns that prevented a complete 'return to normal' and highlighted the importance of virtual viewings and contactless experiences. That is all we are about at Kiko - we're able to list your property safely, and let your tenants move in contactless.

We opened early access for landlords, so your property could be next in line to have tenants safely moving in, and rent guaranteed on time, every time - contact me at dawid@kiko.homes and I'll sign you up for rent guaranteed property management on Kiko!

Let's see what happened this week to:

Tenants 🙋‍♀️

Tenants have been facing challenges moving in safely, while avoiding contact with agents is still recommended - highlighting the importance of contactless options for picking up keys and moving in.
More tenants rented new homes than last week, with new tenancies now at a level of 60% of last year's traffic.

Landlords 🧓

Rent prices remain stable, while sales have seen many buyers ask for larger than usual discounts, pointing to renting being the more attractive choice to property owners at the moment.
Eviction procedures are expected to soon include checks on tenants' mental health, in a change for landlords seeking repossession of their homes.

Firms 👩‍💼

Agencies have been allowed to continue performing right to rent checks on video calls, as the government again moves to highlight the importance of virtual viewings and contactless solutions.

Sales ✍️

Analysis shows the stability of rent prices, combined with the dip in sale prices, has created an attractive opportunity to buy properties to let.