How Have Greenwich Landlords Been Affected By COVID-19?

At the start of May, we were experiencing good demand for our services, and our team was dealing with a lot of clients. One of the success stories of this time saw our office letting two properties in the final week of these rental properties coming to market in just 24 hours.

We have also welcomed many service accommodation landlords contacting us for assistance, and we are pleased to say we have been in a position to help them.

Of course, midway through May, the Government announced the housing market could start to move forward. Social distancing measures must be followed, and safety is paramount, but there is a slight sense of optimism for many people in the market right now.

There are signs of life in the housing market

With Zoopla and Rightmove releasing positive figures for the property and letting market since the industry returned, there is no doubt some people are moving. Howsy also spoke about the increase in properties being listed on the rental market. In the aftermath of the industry re-opening, an additional 6,838 rental properties were recorded, representing a rise of 15%.

Callum Brannan is the founder and CEO of Howsy, and he said: “Many in the rental sector will be breathing a sigh of relief with such immediate green shoots of market activity returning to a number of cities following an ease in lockdown market restrictions. Of course, other pockets of the market will take longer to see this positive trend emerge as agents and landlords find their feet operationally.”

We are here to assist landlords and tenants

At Hunters Greenwich, we appreciate many people are struggling, and the thought of a recovery seems like a long way for many people. No matter what your current position or view is, we are here to assist you in the short and long-term.

Callum Brannan continued by saying; “We’re certainly not out of the woods yet and the ongoing financial and health implications facing many tenants and landlords will continue to be an obstacle. However, now that we as an industry are able to facilitate them on a greater scale, we can at least start to rebuild momentum in the sector.”

We are doing what we can to assist landlords as best we can, and we are pleased to see that landlords have been helping tenants. A study undertaken by the National Residential Landlords Association (NRLA) found that of the 4,500 private landlords surveyed, 44% had received a request for help from a tenant.

Ben Beadle, chief executive of the NRLA, commented: “This research proves that the vast majority of landlords are doing everything possible to support tenants through difficult times. To suggest otherwise is needless scaremongering and serves only to heighten anxieties for tenants when we need a spirit of co-operation. We are continuing to work with landlords and the Government to sustain tenancies through the immediate crisis and beyond.”

If you are looking for guidance on the housing market or local matters, please get in touch. At Hunters Greenwich, we are keen to provide as much support and guidance as we can in the local community, so please contact us today.