With the Private Rented Sector (PRS) having experienced a roller coaster property ride for the majority of this year, Gillian invited Steve Coyle, Managing Director of Cullen Property on the Lets Talk podcast to discuss his views on how they adapted to the effects of the pandemic and talk about the ‘new norm’ for letting agents.
Steve chats about the measures and assistance they introduced for landlords and tenants, as well as a personal shopping service to help students looking for properties to rent. Gillian finds out more about Cullen Property’s ‘5 step framework’ to successful letting in 2020/21 and the aspects that they view will become increasingly important in the Scottish PRS.
The effects of PBSA’s and BTR on the PRS
Steve also shares his views on the Tenant Hardship Loan Fund and whether tenants will gladly reach out for this or actually be cautious in taking out a loan during difficult times. They also discuss other elements impacting the PRS, out with the pandemic, such as the increasing variety of tenures including Purpose Built Student Accommodation (PBSA’s) and Build to Rent (BTR).
Cullen Property realised that Covid-19 ‘shone a light on service’ and have since been investing in different areas of their company to best serve tenants and landlords. Steve discusses the strategies that Cullen Property introduced to invest in people so that they would receive a supremely, personal service.
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