The coronavirus outbreak has impacted many businesses across a variety of sectors and there is no doubt that the property sector is one which has taken a particularly hard knock. The government’s advice to delay non-essential house moves has certainly put the breaks on sharply, in addition to the banning of face to face property viewings. This meant that suddenly, it became very difficult to continue with the traditional means of seeking out new tenants for a rental property.

At Paige & Petrook, we took measures quickly to respond to the crisis, which included having our team working from home and organising the safe drop off and collection of keys from our Pinner office. We’ve also been keeping in touch regularly with our clients and have continued to provide the highest levels of service despite the challenges.

Naturally, there are certain aspects of our business that are simply not possible at the moment, particularly when it comes to face to face meetings, but this doesn’t mean that things need to come to a complete standstill. In fact, there are many opportunities that have arisen due to the current situation which can assist with the successful letting of vacant properties.

Here are some of the ways in which the property sector is evolving as we continue to battle through the uncertain months ahead.

1.    Virtual Viewings

Virtual viewings are not a new concept, but the lockdown has led to more opportunities to showcase a vacant property online. From quirky 3D images to videos and even live stream ‘open house’ viewings, there are many ways that both landlords and agents can generate interest in a property during lockdown. Bear in mind that people are spending more time on mobile devices and online than they were previously, so there’s a captive audience waiting.

2.    Video Consultations

Nothing beats a face to face meeting and at Paige & Petrook we really do value the opportunity to meet with clients and take a detailed look at the properties we will be managing, but these are unprecedented times and so we all have to be willing to adapt. We have found the introduction of video consultations to be highly effective in helping to bridge the gap whilst we are unable to meet in person. Video calls help to build more rapport than a traditional phone call and there is much less chance of information being misunderstood or taken out of content, particularly when compared to a standard email.

3.    Tapping into Trends

As limiting as the Coronavirus outbreak has been, it has also led to the development of some interesting buyer trends which are worth exploring. Tradesman comparison site HaMuch.com recently explored the trends and demand for properties with garden rentals during the lockdown. They assessed how many were listed and what proportion were snapped up by tenants, thereby indicating the level of demand.  The research showed that at 47%, Bristol is the UK city with the highest demand for a garden buy-to-let rental property, followed by Nottingham (40%) and London (39%). In addition, property social network PropertyHeads.com have seen a rise in demand for granny annexes, home offices and rural properties since lockdown measures were imposed. Clearly, understanding that aspects of a property which may now be more attractive due to changing preferences could help to increase the chances of securing new tenants, particularly as the impact of the outbreak is likely to remain for many months to come.

At Paige & Petrook, the safety of our staff and our customers remains a top priority and we will continue to follow the latest government guidelines and advice with regards to safe practices. If you are looking for a property management partner or would like to discuss our services in more detail, please do get in touch.