{"id":5119,"date":"2020-05-07T12:20:09","date_gmt":"2020-05-07T12:20:09","guid":{"rendered":"https:\/\/www.citylets.co.uk\/blog\/?p=5119"},"modified":"2020-05-07T13:41:39","modified_gmt":"2020-05-07T13:41:39","slug":"get-ready-for-busiest-day-in-lettings-industrys-history","status":"publish","type":"post","link":"https:\/\/www.citylets.co.uk\/blog\/get-ready-for-busiest-day-in-lettings-industrys-history\/","title":{"rendered":"Get Ready for Busiest Day in Lettings Industry\u2019s History"},"content":{"rendered":"

COVID-19 and the lockdown have caused major disruption to the property industry and everyone is waiting with anticipation for the day the Coronavirus restrictions are relaxed. With the property sector being recommended as one of the first industries to resume operating, letting agents are being urged to prepare for what could be one of the biggest moving days on record.<\/p>\n

An independent report written by Conservative peer Lord Gadhia and Sir Jonathan Symonds, Chairman of GlaxoSmithKline, states: \u201cThe initial focus for reopening the economy should be on sectors that have the greatest multiplier effects with minimum risks\u201d and gives the property market as an example of such sector.<\/p>\n

\u201cA massive amount of pent-up demand\u201d<\/strong><\/h4>\n

Chief Executive of ARLA Propertymark, David Cox, predicts that the first Friday out of lockdown (whenever that might be) will see a surge in lettings activity.<\/p>\n

\u201cThere\u2019s clearly a massive amount of pent-up demand in the market,\u201d explains David Cox and he continues: \u201cOur message is just put everything on pause – don\u2019t cancel it. The first Friday out of lockdown is probably going to be one of the biggest moving days in the lettings industry\u2019s history.\u201d<\/p>\n

\"\"<\/a><\/p>\n

Mr Cox describes the industry\u2019s response to the COVID-19 crisis as \u201cexceedingly professional\u201d and the most recent study<\/a> by landlord\u2019s estate agent, Portolio, reinforces this statement in Scotland, stating 92% of private landlords are satisfied with the support and work of their lettings agent during these unprecedented times.<\/p>\n

More legislative change on the horizon<\/strong><\/p>\n

ARLA<\/a>\u2019s Chief Executive advises agents to plan ahead and prepare for expected increase in new tenancy applications once the property market re-opens, by assessing the capacity requirements and logistical changes required to respond to this demand. He also forecasts that the Coronavirus crisis will drive more legislative change, therefore landlords and agents should be proactive:<\/p>\n

\u201c[Post-crisis] I think they\u2019re 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\u2019s 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\u2019s get out in front of it, so we\u2019re on the front foot.\u201d<\/p>\n

Long-term, Mr Cox believes that the property market will change \u201cquite significantly\u201d, with many of the old ways and habits being replaced as a result.<\/p>\n

\"latest-apps\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

COVID-19 and the lockdown have caused major disruption to the property industry and everyone is waiting with anticipation for the day the Coronavirus restrictions are relaxed. With the property sector being recommended as one of the first industries to resume operating, letting agents are being urged to prepare for what could be one of the …<\/p>\n","protected":false},"author":1,"featured_media":5121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[510,604,602],"class_list":["post-5119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-arla-propertymark","tag-lockdown","tag-portolio","property"],"yoast_head":"\r\nGet Ready for Busiest Day in Lettings Industry\u2019s History - 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