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Bringing sanity to chaos with our effortless task management features
Bringing sanity to chaos with our effortless task management features
Whilst coronavirus has caused major difficulties for the letting industry, it has also presented a number of opportunities that, if taken, can result in your business emerging from the crisis in a solid position.
Unsurprisingly, many agencies struggled to adapt, with many being forced to furlough their staff as the first two weeks of the coronavirus saw a 57% fall in demand for rental housing. Although restrictions are easing and the rental market is gaining momentum, there are concerns around the world that there could be a second peak. Even if there isn’t another peak, the effects of the outbreak are likely to continue to be felt for some time to come. Now is not a time to relax, it is time to make sure you’re ready to adapt and thrive in the new normal. Coronavirus has presented a number of opportunities that, if taken, can mean you can emerge from the crisis in a solid position.
A sneak preview...
While it may seem like that the worst of the coronavirus outbreak is over, that isn’t what you should base your business plan on.
There’s not much point adapting your business to the new normal if no one knows about it. The outbreak has changed your customers’ priorities and needs drastically, so you can’t, therefore, continue to communicate how you were pre-outbreak.
The coronavirus outbreak has meant that property managers have been forced to manage tenancy journeys remotely. As a result, many companies have turned to technology to help them navigate the new normal.
Social distancing and lockdown measures meant that the number of property viewings reduced greatly.
Choosing the right tenant is an extremely important part of the tenant journey. If the wrong tenant for your property is chosen it can lead to costly repairs and time-consuming evictions.
Effectively communicating with tenants is key to running a successful rental business at the best of times, but during these uncertain times, it is even more important.
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