When many workplaces were forced to close because to the Covid-19 outbreak, an extraordinary shift toward working from home occurred. In order to accommodate their new work habits, tenants had to reevaluate what they required from their rental property, which had a big influence on the rental market.
What Adjustments Did Tenants Want To Work From Home?
As a result of individuals working from home, whether they were renting or owning, three essential aspects of their residences changed:
• Work area
• A place to relax and unwind in the fresh air
For many families, there was a need for more than one person to work at the same time. For those who wanted to work from home, more room was required. Employees wanted an additional room for a home office, but the option to set up a particular workspace or desk in an existing room also made a significant impact.
People also wanted more outdoor space in addition to more inside space. When individuals were not permitted to leave their homes, having a garden or even a balcony became a necessity. For both physical and emotional well-being, even when constraints have been relaxed, getting up and moving about throughout the course of a long day at a home desk is a need.
Finally, people’s ability to live altered as well. To save time and money, they no longer had to drive to cities or commuter suburbs to go to work.
Renters, in particular, have the freedom and flexibility to pick where they want to reside based on their work schedules. As a result, a large number of city dwellers relocated to the countryside or small villages outside of the city centre in search of more affordable housing with the additional room they sought.
What Happened After Lockdown?
Expectations are high that things will revert to pre-pandemic status, including those of tenants, at some point in the near future. Even still, according to YouGov, 60% of British employees would like to work remotely from time to time, so the need for space and desire to live in distant areas may be here to stay.
However, when businesses reopen, there seems to be a resurgence in city life. According to a recent BBC article, the urban rental market has seen an uptick in demand due to people returning to work gradually and covid restrictions being loosened. This year’s January demand was 76% higher than in the prior four years.
Landlords who own homes in cities and bigger towns will be pleased to hear this news. However, they must take into account the fact that many renters will continue to work from home, which will have an impact on their choice of property.
Looksy Inventories Is Here For You
Contact Looksy Inventories now to learn more about how our local team can become your inventory partner and ensure that your property continues to be attractive to today’s tenants.