The New Normal for Residential Letting
The Coronavirus Pandemic has had a significant effect on the property market within East Lothian and Edinburgh. We’re finding there is a greater demand for more rural properties, along with the request for more indoor and outdoor space, where tenants can work from home and enjoy outdoor living. Clearly the working from home requirement has allowed people to reconsider their need to be so close to the City. If you have a property that you have been considering letting out, now would certainly be a good time to act.
Take time before advertising your property to maximise its potential, by freshening up and neutralising the décor, minimising the furnishings, and giving it a good spring clean to ensure your property can compete with others. If your property hasn’t been on the let market recently, you may need to consider some upgrades for compliance, and we would recommend you incorporate this work at the same time.
Even the advertising of property has changed during the Pandemic, with social distancing restrictions making it extremely difficult for viewings to be carried out as they once were on a face to face basis. We have found that property listings have received maximum interest when virtual tours and floor plans are included. Additionally, viewings via video link from the property are proving to be very popular, allowing viewers to be shown around the property at their own pace but still within the safety of their own home. These extras have been a great hit with our landlords and potential tenants, and they are now offered as add-on services for all our properties going to market.
For those landlords who have had tenants in their properties over the lockdown period, it is likely that you have had to work with your tenants to ensure they are able to keep a roof over their head during such difficult times. The Government have issued a lot of information for both landlords and tenants in relation to tackling the financial implications of lockdown and Watt Property have worked closely with our landlords and tenants to help them through, always with an aim to retain a home for the tenant and an income for our clients. We would always recommend open discussions with your tenants to ensure a positive outcome for all parties.
Not only have the team at Watt Property quickly adapted to the new normal, we have carried out some restructuring within the team, with Laura having passed her Letting Agency Qualification to become a fully qualified Property Manager for the Agency. Bethany has been submitting assignments throughout the lockdown period and we fully expect that she will join Laura as a fully qualified Property Manager by the end of 2020 as nothing will stand in her way! Pauline has now been promoted to Senior Manager of the firm and looks forward to working closely with Angela, Head of the Business, in assisting all our new and existing clients with their properties over the coming months.