Coronavirus – Property rental market

The UK market is just one of the many industries hugely affected by the coronavirus pandemic, as uncertainty grows over the future of housing. Virtual viewings have been initiated to maintain social distancing standards while searching for a property, meaning potential renters and buyers can now view flats. This provides the option of staying within your own home as you view and inspect different dwellings of your choice.

How could renting be affected by COVID-19?

The concept of virtual viewing is not as new as people may think. However, the idea that virtual viewing may become the ‘norm’ of the near future is realistic. According to the CEO of Movebubble.com, the UK’s first video rental app, there has been a huge shift in the way people are choosing to view rental properties.

“Before the pandemic, we already knew from our 700,000 strong databases of renters that they wanted a simpler and more convenient way to search and secure their next home. We found an overwhelming demand from people wanting to virtually view or transact online and avoid viewing a property in person.”

It is clear that the COVID-19 pandemic has accelerated the shift in consumer behaviour as people are looking to their phones to make them accessible to a lot more thing rather than being in places in real life.

Will virtual viewing have a positive effect?

In short, yes. The use of mobile phones and limiting the need to actually visit properties can only serve as a bonus. It saves time for a lot of people and gets things done a lot more efficiently. Obviously there will be a few cons in not being present at the property, however, the hassle-free way for renters to find a home will prove to be a huge incentive.