Rental sector abandons short-lets as virus kills off tourist business

Rental sector abandons short-lets as virus kills off tourist business


Todays other news


There’s been a sharp drop in rental churn since the Coronavirus outbreak worsened according to a flat-sharing website.

SpareRoom says that across the UK there was a 20 per cent drop in people looking for rooms over the week to last Monday, March 16.

However, despite London being regarded as three weeks ‘worse’ in terms of virus cases than the rest of the country, churn there remains higher with a fall of only 15 per cent. 

In response, landlords are trying to shift from Airbnb-style short lets – which have seen catastrophic falls in activity in the past fortnight – to traditional long-term lets.

SpareRoom says that with the rising concern about face to face contact there has been a rise in video calls, both to discuss properties and to view them ‘virtually’.

Although it’s still early days, we’re seeing some interesting shifts in behaviour on both sides. Following widespread cancellations, we’re seeing both landlords and homeowners moving from short term rents to looking for longer term security” says Matt Hutchinson, SpareRoom director.

Tenants are getting creative by using video calls to hold virtual viewings and interviews. The people you live with make a far bigger difference to you than the property itself, and video calls are a great way to get that all important first impression before deciding to go and see a property. It also minimises the need for travel and social contact so it’s a win-win.” 

 

Share this article ...

Join the conversation: Login and have your say

Subscribe to comments
Notify of
7 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Recommended for you
Related Articles
Durham based Toast Lettings is to change its name to...
Rightmove, still very much the Number One portal despite growing...
Housing Minister Matthew Pennycook has written to one of the...
Edinburgh-based property portal ESPC has revealed the top-performing Edinburgh postcodes...
The biggest rental sector headline from Labour’s manifesto may well...
A new Renters' Rights Bill is to be introduced into...
Recommended for you
Latest Features
A tenant campaign group has suggested landlords exiting the sector...
Rental platform Goodlord has taken steps to help letting agents...
Sponsored Content
B-hive Block Management Partners Celebrates Major Milestone With Over 100...
We’re absolutely delighted to announce that, after 10 years, we’re...
You don’t have to simply accept things as they are...
7
0
Would love your thoughts, please comment.x
()
x

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here