Landlords calling letting agents about property management and tenant services dropped by a third last week with some blaming Covid for a lack of interest in their HMOs.

Tech firm Yomdel’s Property Sentiment Tracker reports that requests are now at levels last seen in the depths of lockdown on 12th April and 25% below the same week in 2019.

“The slump in landlords reflects how agents are telling us Covid fears are making it much harder to let out shared or multi-occupancy households – particularly in London,” Andy Soloman, founder and CEO of the online live chat specialist, tells LandlordZONE. 

But enquiries from tenants looking for new rental properties bucked the trend, rising 12% last week to their highest level in four weeks, and 23% above the same week in 2019.

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“People are not interested in sharing and the market is heading towards smaller occupancy households,” he says.

Soloman (pictured) adds that while the easing of lockdown restrictions sparked record surges in new enquires from vendors, buyers, landlords and tenants, we’re now moving towards levels normally seen at this time of year.

“It’s hard to know what will happen in the next few weeks and months – the shifting sands of differing coronavirus restrictions across the United Kingdom make it very difficult to forecast future trends.”

4 COMMENTS

  1. Tenants may not want to live in shared housing, and in the pandemic may have the opportunity to move back to parents, but when the economy is open again these, mostly young, people will still not be able to afford their own home so I am sure they will return to HMOs.

    • The only reason HMO are used is because that is all that can be afforded.

      Every tenant would choose their own private rental accommodation.
      They just can’t afford it!!!!

      What is the difference between a parental home and a HMO?……………None!

      Tenants simply have no choice but to use shared accommodation.

      Those who are lodgers will be finding the lodger rate of HB is substantially less than for a tenant.
      Even less if sharing a room as lodgers as with couples.

      Quite frankly for many tenants now on UC they might as well return home.

      Just not viable renting as a single person on UC.

      HMO renting is the only way many who work in the hospitality industry can afford to work in it.
      Split shifts and all that are a nightmare.

      Certainly will be no loss if lots of eateries etc shut down permanently.

      Wages are so low to bother working in such an industry.

      Many businesses will ve going bust through no fault of their own.

      Consumers will perhaps not be so keen to spend.
      More important to have savings for rent and mortgage payments.

      Consumerism wim be taking a hit.

      There will be far less demand for HMO type accommodation as those who used it before won’t have any jobs.

      There are going to be major changes in tenant and lodger demographics.

      Basically a lot less of them will be renting anymore.

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