COVID-19 briefing: June, week 3

dbaranowski

In this week's update, we cannot overlook the importance of news that the British economy slumped by a fifth in April. This has wide implications for anyone in Britain, and particularly for tenants whose incomes are squeezed by rents and deposits, and landlords that rely on punctual rent payments to pay their mortgages or run their rental companies.

With Kiko, landlords get rent guaranteed on time at an up to 3 times lower cost than traditional lettings agents, and tenants save money by not having to pay a deposit. With our early access for landlords now open, you can get started on listing your property on Kiko right away with our free photoshoot and 3D tour! 🚀

Let's check what happened this week to...
Tenants

New tenancies dipped once more below last year's level, now sitting at about 85% of last year's traffic as tenants become more demanding.
Tenants are looking for better quality homes, with more space and outdoor areas in high demand.

Landlords

The importance of working together with tenants to navigate rent holidays hit the news again, as landlords are looking for ways to limit the economic damage of the outbreak.
As the British economy contracts significantly in April, landlords must watch property costs more than ever to protect their returns on rent.

Firms

With construction costs set to increase, build-to-rent landlords should be just as mindful of the costs of renting out their properties.