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TODAY'S OTHER NEWS

Most rental completions use virtual viewings ‘without tenant going in’

A property management firm says there’s been a big surge in rentals with the majority of deals being completed using virtual viewings, without the tenant even entering the property. 

DJ Alexander, which operates mostly in Edinburgh and Glasgow, says completed rentals were up by 30 per cent in July, with the company recording 235 new rentals during the month. 

A statement from the firm says: “Virtual viewings are undoubtedly the biggest change the rental property market has experienced, and the majority of rentals have been finalised through virtual viewings, with tenants going through the whole process without stepping foot on the property.”

David Alexander, joint managing director of the firm, comments: “Technology has kept many of us in touch with family, friends, and work during the lockdown and there appears to be much greater acceptance in using new methods to view properties than any of us would have believed six months ago.” 

He adds: “People are desperate to return to some sort of normality and their acceptance of virtual viewings is an interesting development.”

The firm reports that the high demand has sustained rents at their existing or rising levels at a time when many in the sector believed that pricing might be vulnerable.

“These figures are extremely encouraging and perhaps reflect the pent-up demand which may have built up in the previous months. It is hard to say whether this will continue but it is an extremely encouraging and hopeful start to the easing of lockdown” adds David Alexander.

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