How The Rental Market Has Changed During Lockdown

The easing of lockdown has seen a dramatic increase in tenant enquires from applicants looking for a change of scenery. A recent BBC survey has suggested 49% of renters have changed what they are looking for as a response to living in lockdown, with 59% suggesting they would like some outside space.

Outdoor space has always been a big draw for renters, but with larger numbers of people working from home and spending more time at home generally, it’s now more important than ever. This could be an important factor for investors to consider when looking for their next buy to let investment.

Some other changes to tenants requirements have seen tenants looking for larger homes, access to a garage, a better home workspace and closer proximity to a park or open green space.

A studio flat was the most sought-after property type among renters in January, but by May - after the coronavirus lockdown - it had dropped out of the top five. A two-bedroom house is now the most sought-after.

These changes may be short lived, but access to outside space has been something that has always been important, so over the next few weeks, our Lettings Director James Charlton will be scoping the market for the best buy to let investments that offer this. Some will be on the market with us and some will be with other agents. James will be posting videos of these properties, please keep an eye on our social media accounts for the latest updates.

If you are an investor and would like any advice on the best purchases locally please do not hesitate to get in touch. James will be happy to share advice and experience of the local lettings market, regardless of which agent the property is on the market with.

Thank you for reading and good luck with your next purchase.