Are Digital High-Speed Property Viewings the Future?

Ever been in this situation? You’re on the bus to a property viewing you arranged several days ago and have travelled over an hour to visit. Just as you approach your stop, your phone buzzes: the viewing has been cancelled.

Renting property in the UK is not like it used to be. In the past, adverts would be posted in newspapers and shop windows, with the process of filling a room often taking weeks or even months. Nowadays, it’s very common for a property to be listed online and filled within the hour.

We can pinpoint technology, the pandemic, the rising housing crisis, the economy and countless other factors as the cause for this change, but the real question is – what does this mean for renters? And where is this trend going?

Online Viewings – The New Normal

In 2020, no-one was legally allowed to enter another person’s home, meaning in-person viewings were temporarily suspended. Digital viewings had already been creeping in, but with this legal change, they quickly took to the mainstream. 

360 photography allowed prospective tenants to digitally “walk around” the property and even jump from room to room. Video tours, uploaded by agents, landlords or flatsharers created the opportunity for tours to be shared online between friends, partners and families for critical inspection. Like detectives, prospective renters and buyers would comb these videos for clues, to ascertain the suitability of the home they were latching themselves onto. 

Today, in-person viewings are back, but no longer a mandatory step in the renting/buying process. In fact, due to the hyper-competitive market in big cities, it’s common to put down a holding deposit on a property you’ve only ever seen online – thus beating the competition.

The practice is flawed, and it’s easy to dupe, mislead or obscure major flaws of a property when shown via online video. However, for some people, it’s simply the most convenient option. Viewings are often only available during normal working hours – making them difficult to view for most people that work a 9 to 5. For those moving from far away (including overseas), it’s a convenient way to secure a flat before you’ve arrived in the region.

How Can Online Viewings be Optimized?

If we are moving into a world in which renting (or even buying) without viewing is the norm – it’s essential that this is optimized. Many letting agents are already working on this, and here are some of the most effective and interesting innovations we’re seeing when it comes to online viewing technology:

VR:

Strutt & Parker are just one of several UK-based estate agents that are experimenting with Virtual Reality (VR) technology. More effective than a 3D-tour, by putting on a VR headset, users can actually step inside their future home, wander the halls and get an immediate sense of being inside. 

For those that have a headset at home, commuting long distances to property viewings may become something of the past. By simply slipping on the helmet, individuals can digitally transport to hundreds of dream homes, simply at the click of a button. For those that don’t have one – another option is an “appointment” service at their local estate agents – to browse properties digitally and complete a full day of personalised property viewings in a matter of minutes. Streamed onto a laptop or TV screen, it may even be possible for the agent to tour you through the property whilst you view it in VR, explaining its features and answering any questions you may have.

TikTok:

What... that app for Gen-Z to choreograph dance moves and lip synch to songs? Yep, that’s the one! In a bid to connect with a new generation of renters, companies like Purplebricks have taken to conducting high speed tours directly via the app. After conducting a survey,  Purplebricks discovered that it takes British adults an average of 25 seconds to deem whether they’re interested in a property, so they’ve set a 25-second limit on their high-speed tour clips.

Whilst some may find this style of viewings hopelessly fast-paced, it falls in line with the needs of a younger generation of renters, who like their online content short, fast and to the point. 

Viewings at Blue Door

Here at Blue Door, we maintain that all prospective Guardians have a right to view a property in person, in order to get the full viewing experience. This also means having the opportunity to meet your future housesharers (when applicable), to get a sense of the non-conventional buildings you will be inhabiting and get any questions you may have about the responsibilities of being a Guardian answered.

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Struggling to find an affordable property to rent? Why not consider signing up as a Property Guardian, saving approximately 50-60% on average market rent? Find out more, browse our available properties and register today:

How Much of your Salary Should you Spend on Rent?

According to the Office of National Statistics (ONS), rent should be no more than 30% of your income. But what is the reality, and what does that mean for different regions and salaries? 

Here’s the breakdown.

Defining “Affordability”

Affordability is obviously a slippery term to define. Some people need rent to be low because they have more expensive lifestyles (or children to raise). Others don’t mind spending more on rent, since they prefer to spend their evenings at home cooking, rather than buying expensive meals out. 

It’s all relative, but very loosely, 30% of your income being spent on rent allows for 20% to be spent on bills, student loan repayments/other essential living costs and 50% on lifestyle and saving.

How Much Should Someone on a 20k Salary Spend on Rent?

For someone on a 20k salary (£1439 a month –  after tax), affordable rent at 30% would be £431.70 per month, with £287.8 per month on bills/living costs and £719.50 for living. Sounds reasonable right?

Well, yes. However, in reality, the UK housing market doesn't allow for such a reasonable distribution, and certain areas make finding flats to rent at £431.70 a month impossible. 

For someone needing a one-bedroom apartment in London, for example, it’s rare to find anywhere under £1000, and £650-750 is average for cities like Birmingham or Leeds or Manchester.

In fact, in order to afford a 1-bed in London, someone on an entry-level £20k salary would need to spend 70% of their (post-tax) earnings on rent, plus significantly more in bills and council tax. 

Of course, 20k earners rarely go for this, and instead opt to flatshare in order to save money. Even flatsharing, however, it is rare for someone to find a room in London for less than £600, making their monthly rent £170 over the “affordable” budget margin.

What are the Cheaper Alternatives to Renting?

It’s clear that due to the state of the UK housing market, a new solution is needed when it comes to renting. Higher salaries will always be the number one option, but in the interim, seeking out low-cost, alternative rental solutions are also important for those on lower salaries in big cities. 

One option is Property Guardianship, a fairly new concept, which allows individuals to temporarily inhabit vacant residential or commercial properties at lower than average rent. These properties are vulnerable to vandalism or squatters if left empty for too long, so landlords and property managers open them up to Property Guardians to legally inhabit the property and provide 24/7 security – simply by living there!

It’s a great solution because it allows people on lower incomes (or simply those that want to save on rent) to live in characterful properties in desirable locations, at a fraction of normal market rental costs.

If you want to find out more about becoming a Guardian, check out our website, where we include lengthy information guides and FAQs for potential Guardians. 

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Curious to find out more about becoming a Guardian? Or got a vacant property you’d like protected? Contact us today via our web-form, or call 02078594213 for advice on how Blue Door Property Guardians can help you.