Understandably, many people are placing all potential property or rental moves on hold for now. With so much uncertainty, people who are okay staying where they are likely to decide to maintain the status quo. This is perfectly acceptable and understandable.

If anyone is looking to move as soon as possible, we can help. However, we recognise that people will delay decisions until they are more confident about their finances and what is happening. Of course, just because people aren’t looking to move now doesn’t mean that people aren’t planning their next move.

People will review their living arrangements

We believe a lot of people are using their time during the lockdown period to consider their options. Some people will be looking for a new home to gain more space or a change of scenery. Others will choose to because of circumstances such as a change in work or family matters. There will also be many moves based on financial decisions.

Therefore, it is not a wild assumption to believe a lot of people are currently reviewing their rental options. When the market moves forward, there will likely be a lot of people keen to make a move sooner rather than later. This is a view which has also been expressed by the CEO of ARLA Propertymark, David Cox.

Cox was speaking on a webinar, when he said; “There’s clearly a massive amount of pent-up demand in the market. Our message is just put everything on pause - don’t cancel it. The first Friday out of lockdown is probably going to be one of the biggest moving days in the lettings industry’s history.”

Landlords should prepare themselves for this heightened demand. Also, landlords should take the time to ensure they remain up to date with any regulatory changes which occur, or are due to happen, soon.

Landlords must remain in touch with regulatory changes

Matters such as the abolition of Section 21, the introduction of Electrical Safety regulations scheduled to come into effect on 1 July and the Regulation of Property Agents (RoPA) are all matters work considering. Cox also believes there will be additional legislative changes to consider when the market moves forward.

The CEO of ARLA Propertymark said; “[Post-crisis] I think they’re going to be looking at more regulation of landlords. I think we will go into a much tougher regime on property standards. We are trying to get out ahead of that with the concept of a property MOT; if we can try and shape what comes next, it’s going to be much easier for the industry to accept than to have a whole collection of laws thrown at us like we have over the past 10 years. Let’s get out in front of it, so we’re on the front foot.”

As an experienced letting agent serving the Bridgwater community, and many of the surrounding areas, we are here to help. We promise to stay in touch with the latest technology, helping our clients to achieve more, and we aim to support the local community as best we can. If there is anything, we can assist you with; please contact Andrew Lees Lettings today.