RESIDENTIAL LETTING ON THE MOVE AGAIN
Category Advice
Welcome to day something of lockdown level something else; my failure to be specific being due to the fact that, between writing and publishing this article, the situation could have changed again. Change has become our new 'normal' and we are constantly learning to roll with changes over which we have no control. We however adapt accordingly.
At Steer & Co, one of our core functions is residential letting/property asset management.
The impact of the Covid-19 pandemic on our management functions has seen us adapting so as to continue providing high level advice and service to our clients' portfolios - lessors and lessees. We now produce virtual tours of most of our available properties so that there is no need for prospective tenants to physically view a property. We also provide expanded advert write-ups, on many varied platforms, so that the prospective lessee learns as much about the property as possible. We have substantially expanded our online presence so that the properties we have available 'to let' are exposed to an ever wider potential base of interest.
With the publishing of new Directions (13 May 2020), in terms of Section 27 (2) (f) of the Disaster Management Act, 2002, people are now permitted to a 'once-off' move to relocate, without the 7 June 2020 time limitation that was originally directed (7 May 2020). All the details can be found in TPN's article here: https://blog.tpn.co.za/2020/05/pack-your-bags-you-can-move.html.
This progressive decision has allowed many lessees, who were either due to move out of or move into our managed properties, the opportunity to do so. It has also allowed people who need to relocate due to their sometimes drastically changed circumstances, the grace to do so which has resulted in our (virtual) switchboard receiving a major increase in enquiry call volumes to approx. 70 calls per day.
The work-from-home (WFH) model has been forced on many of us and has seen the demands of tenants changing where people with children at home are looking for somewhere with more space to allow for a quieter home office, where salaries have temporarily (hopefully) taken a knock people are looking to scale down by moving into a smaller space and other people are looking for a change in neighbourhood due to amended travelling requirements.
We are geared to assist in finding the right home to suit their needs. In the same breath, we are able to counsel lessors where demand for their particular investment property has perhaps changed and rental adjustments may be required in order to find a suitable tenant. These are some examples of changes that our clients have to adjust to and where we aim to react quickly and appropriately so that tenants find the right property and landlords minimise vacancies.
Having served Cape Town's property market since 1879, through many dramatic events, Steer & Co is very much open for business. We are keeping abreast of the constantly changing residential letting landscape and, although we hadn't been able to host physical viewings, we've been able to let a high number of properties while being on "lockdown". Following the publishing of the 7th May Directives, our property inspectors have been able to facilitate key handovers and ingoing and outgoing inspections in line with the requirements of the Rental Housing Act.
We do however emphasize that we provide this service utilizing strict protocols in terms of safety of our employees and the people that we come into contact with. As the Country moves to level 3, our sense of duty and care heightens as we enter a more intense and crucial period in the Covid-19 pandemic. Please adhere to the Government's directives and ensure that you have the required permits and associated documentation when relocating.
Author: Nina Vass