COVID-19 briefing: June, week 2

dbaranowski

Last week's news brought to light several issues faced by tenants and landlords. Tenants have complained of poor quality virtual viewing experiences that did not let them check important factors like water pressure issues or mould, while landlords have been left confused by cash security deposit regulations.

Some of these issues have been created by the outbreak, while others simply made worse by it. Whatever the cause, Kiko can make life easier for tenants and landlords. We can list your home with the most advanced and transparent virtual 3D tour that allows tenants to check noises, smells, and other issues; and when you rent on Kiko you and your tenants benefit from no deposit renting - with no fees, and no administrative headaches.

Let's examine what happened this week to...

Tenants 🙋‍♀️

New tenancies are back at last year's level and could climb higher, as demand for rental homes currently outweighs supply of vacant homes.
Tenants looking to move complained of unreliable video viewings and difficulty to check for problems like damp or water issues.

Landlords 👴

The ban on evictions has been prolonged for two months, spelling further economic trouble for landlords with unpaid rents and potentially forcing some landlords out of business.
The government issued guidance clarifying that any privately agreed rent discounts on holidays do not affect the traditional security deposit 5 week cap, highlighting the confusing regulations surrounding cash deposits. We point out that

Firms 👩‍💼

Insolvencies of housebuilders and developers are accelerating, posing a further threat to the supply of new rental homes.

Sales 💼

Demand for rental homes has increased faster than demand from home buyers since restrictions on the housing market have been lifted.