The government’s Coronavirus Job Retention Scheme will be essential to keeping payments flowing through the rental sector, according to a leading PropTech expert.
Neil Cobbold, chief sales officer at automated payment service PayProp, says this initiative - under which the government will cover 80 per cent of the wages of those workers who have been ‘furloughed’ or temporarily laid off - will be essential to ensure landlords can continue to receive rent during the Coronavirus pandemic.
In response to the findings of a new Zoopla survey of the lettings market undertaken by Zoopla - suggesting a 30 per cent surge in demand by renters in the first half of April - Cobbold says it is positive to see no mass withdrawal of properties by landlords.
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