Rent Supply and Demand and PropTech Recruitment

Renting is beginning to boom. After months of stasis, industries are beginning to pick up again. From construction to real-estate, we’re edging towards some sense of normal once more. How does this affect your PropTech company, though? And should you start considering PropTech recruitment services? Over the coming months, things will still be uncertain. One thing is certain, though, people are moving house frequently, and so it may put a strain on your PropTech systems. Find out more about how to stay ahead of the curve, here.  

The Current Rent Supply and Demand

Industry analysts are currently looking into the soaring demand for rental property in the UK. The PropTech company Rightmove reported its busiest day on record on Wednesday 27th May 2020. What’s behind these changes? There are multiple factors. For one, many offices are moving towards a more permanent working from home structure, meaning that renters have more flexibility over where they live. Many who may have been in a property to be close to work no longer need this as a deciding factor. There are many other significant influences in the boom in demand for rental properties. People temporarily staying with their partners or family for lockdown may have fulfilled their tenancy during this time.  Statistically, in terms of demand, the rental market has almost reached pre-coronavirus levels, indicating a speedy revival for the industry. Currently, rental properties are lagging behind the demand, however. So, if you’re running a PropTech company that helps people to rent, there are a few things to keep in mind.  

Scaling your PropTech Business

You may want to consider scaling your PropTech business if you’re in the position to do so. If not, you may want to train your current employees with a wider range of skills. Currently, it’s more than just fulfilling orders. If there are no houses available, then renters generally won’t be too disappointed. However, they will look elsewhere, so speedy match-ups between properties and tenants are crucial. Customer support skills are more important now than ever, as a balancing act has been created by the boom in demand. Now, it’s crucial to match up renters to properties they’re happy with, liaise with landlords and keep housing safe, but still list properties quickly. It’s, therefore, important to make sure your customers stay happy and stay on your site, even if the number of properties is stagnating. This may require scaling and onboarding new staff. It’s also important to have plenty of developers to make sure your app or website doesn’t experience downtime.   

PropTech Recruitment

If you do need some extra workers while the renting market is booming, it’s time to look into PropTech recruitment. An option may be to hire temp workers, which PropTech recruitment services can assist with.  No matter the reason you need to match a candidate for your company, PropTech recruitment services can help you find someone adaptable and thirsty for innovation. These services can help your company make the most out of the boom in demand. Dalton Buck’s PropTech recruitment services can find the most fitting candidates to help your business grow. To find out more, you can contact us here.