28 Apr Where Renters Stand During the Lockdown
While the moving of people in and out of their homes has become a rather slower business than usual, we are seeing a great many people in the rental market getting in touch to talk through their options.
What is very clear is that we are living in very complicated times. We have put together a few of the more commonly asked questions we have received which will hopefully be useful to those who are renting properties, regardless of their location and personal situation.
Are lettings agents keeping properties on the market?
We haven’t seen much of a drop in available rental properties and so, yes, all of the properties on our portfolio are live and available to rent. Predictably we have seen a significant drop in new properties coming to market.
Is there still a demand for rental properties?
Absolutely. While the physical act of moving home may have slowed and search traffic is lower than usual, many renters looking to move in the near future will be biding their time. We are still receiving enquiries for rental properties across the full price range. Renters tend to fall into two groups – those who will choose move when the time is right and those who have to move immediately after the lockdown for a number of reasons.
After lockdown will more properties come to market?
Renters and Landlords are in the same boat here, many renters are holding off moving until the lockdown has ended; just the same as landlords who are hesitating to bring properties to a relatively quiet market. Landlords also have the added issue of perhaps having tenants in a property whose agreement was due to finish but have had to extend because of the pandemic. Once the restrictions are lifted and people start moving again we’re likely to see a jump in the number of properties on the market.
How are viewings conducted?
All accompanied viewings in person have stopped in line with government advice. We are in the process of updating our website with virtual tours of our properties so that you can get a better feel for the property in question. You can also call us and a member of our team will walk you through the specifics of the property and answer any questions you might have.
Can I still move during the lockdown?
Ideally not. The government has provided detailed guidance which states that unless it is essential, you shouldn’t be moving home during the lockdown. This is not an order to ‘cancel’ plans which are in motion but you should pause your move until the lockdown is lifted. If you’re in a chain, everyone will be in a similar, if not the same situation.
Do I still have to pay rent during the lockdown?
Yes, you are contractually obligated to carry out all aspects of your tenancy agreement, including paying the rent. While some mortgage lenders are offering mortgage ‘holidays’ – it is important to understand that these do not make the payments ‘go away’ they are merely deferred. The payments will still be paid, but spread over the length of the agreement.
What happens if my rental agreement ends while still lockdown?
With the lockdown extending, make sure you have a conversation with your landlord and/or letting agent to ask them about the best course of action. The government has advised that you do all you can to stay put and either ask for an extension to the agreement of enquire about the possibility of a rolling contract until further notice. Most landlords will be able to accommodate you so be sure to broach the subject asap.
Get in Touch
Are you thinking of moving to the area? Make sure you take a look at our amazing catalogue of properties for sale in Virginia Water and the surrounding areas.
If you’d like to speak to someone about properties to let in Virginia Water, a member of our expert team would be happy to help. You can call us on 01344 843000 or email us. You can also follow us on Facebook, Twitter, Instagram and LinkedIn.