call-to-action call-to-action-mobile

Covid crisis sees airbnb landlords switch to longer term rentals, says estate agency ehB

Fri 17 Jul 2020

Airbnb landlords are switching from offering holiday lets to longer term rentals in the light of the coronavirus pandemic, according to Leamington estate agency ehB Residential.

The trend is one of a number of interesting changes seen by its lettings department over the past three months.

Several of the properties it has taken on over the past few weeks have been from airbnb landlords of houses in central Leamington, Warwick and Kenilworth.

Lettings manager Gayl Tallis, who says June has been her department’s busiest month since 2018, explained: “These landlords are turning down the potential higher returns they would otherwise have achieved in the short-term rental markets for the security of a longer term let.

“This is the reverse of the trend we as a country have seen in recent years. A lot of ‘accidental landlords’ had been marketing their properties via airbnb as they could achieve pretty good returns by renting them out by the day or the week.

“But because of the lockdown they obviously haven’t been making any money. And now talk of a second wave means many of them would rather have the certainty of a steady, but lower monthly income rather than gambling on the fact that they could return to previous levels.

In addition to the airbnb properties, the agency has taken on a number of new additions over the past few weeks.

“We’ve had quite a few landlords switching to us from elsewhere and some unexpected new arrivals. For example, we have one couple who had just bought a new smaller house for their retirement. They were going to sell their cottage with its large garden. But they realised in lockdown that the garden was so important to them they have decided to rent out the new house they bought instead and stay put in their original home.

“We’ve also seen quite a bit of movement from tenants who’ve had time to reassess what’s important in life. With so many working from home they realise they’d like a second bedroom to use as a study and a garden – so are moving from apartments to terraced houses instead.”

ehB Residential stayed open, virtually, throughout the lockdown, communicating with landlords and tenants concerned they may lose their jobs or be furloughed.

“The kindness of our landlords has shone through,” said Gayl. “They’ve been offering rent holidays and reductions. They’ve been amazing.”

"As a Relocation Agent ehB are often the first call we make. They have high quality rental properties and Gayl and Rachel provide a very professional, friendly and reliable service. We wouldn't hesitate to recommend them. Kind regards."
David

News Archive

April 2021

Demand outstrips supply as March date sees highest property sales in a decade

February 2021

Demand for family homes is driving price rise, as ONS announces 8.5% annual increase

ehB Residential co-founds new local portal for property searchers

No slowdown in demand for million-pound properties

Show apartments at Victoria Point offer ‘a room with a view’ over Victoria Park

January 2021

Early signs for 2021 property market look promising

Brexit deal, vaccine and lockdown are fuelling house moves

December 2020

Why not move to Leamington Spa? It’s officially the UK’s third happiest town

November 2020

Covid mega lab announcement puts Leamington on the house hunting map for biomedical and data scientists

Demand for family homes continues as Leamington named third happiest town in UK

Developer creates large luxury homes for people who don’t like gardening

Explosion in demand for family homes sees sales double at ehB Residential

October 2020

ehB Residential welcomes government pledge to help first time buyers

ehB celebrates a record breaking summer with our lettings department

September 2020

Million-pound townhouses offer Scandi-style living in Regency theme park

Leamington developer makes showhome video to help overseas or quarantined buyers

Open day offers chance to view contemporary townhouses in Regency setting

Desire for new lifestyle post Covid is driving price rises in Leamington

July 2020

Covid crisis sees airbnb landlords switch to longer term rentals, says estate agency ehB

ehB Residential welcomes stamp duty holiday

February 2020

ehB helps Milverton youngsters raise cash for playground equipment

ehB wins gold award for being best lettings agent in Leamington

January 2020

Rightmove report shows ehB was Leamington’s number one estate agency in 2019

December 2019

ehB celebrates best autumn in three years – despite Brexit

November 2019

Call us now to get you moving

We would like to take this opportunity to reassure all of our clients
- sellers, landlords, buyers and tenants that we are taking all reasonable
steps to protect the health of our clients and our team during the Covid -19
Outbreak. We are following the government and industry guidelines to estate
agents and lettings agents, and are conducting viewings and valuations in
person wearing suitable protection to include facemasks and gloves. We are
also available to offer virtual viewings and valuations should you require that
service. We would be happy to discuss these measures with you further should
you require any further information.
 
Leamington Office 01926 881144 or info@ehbresidential.com
Warwick Office 01926 499540 or warwick@ehbresidential.com
Covid-19 Information Hide