In this week's update, we focus on some of the long-term effects of the outbreak, as demand and rent prices has fallen, and landlords' rent income is set to shrink - all highlighting the importance of keeping your property costs down and keeping your rent income safe and timely. With Kiko you can do just that!
Let's see what happened this week to...
Tenants🙆♀️
New tenancies are yet to match last year's level, as it's becoming clear that tenant demand may take a long time to recover from the outbreak.
Landlords👵
The scale of economic damage caused by the outbreak is coming to light, with an estimated £5.7 billion set to be wiped from landlords' rent incomes.
Rent prices in London have fallen 2.8% last quarter, as the number of available properties in London soared by 41% compared to last year.
Landlords seeking to evict their tenants will have to inform the courts if their tenants are vulnerable or have been shielding from COVID-19.
Tax filing changes for landlords have been announced, as most landlords will have to file their taxes digitally by 2023.
