Kyle Biskit discusses how the pandemic showed people what they want in a home

There hasn’t been a stone that the pandemic has left unturned. Every industry is reeling from the effects of Covid-19, and the luxury house rental business is one of them. The safer-at-home confinements brought about by the coronavirus have changed how people view their homes.

This has been especially true for luxury homeowners. The market has been on a rollercoaster, with business picking up just to drop back down again. According to Kyle Biskit, founder of TSL Rentals, the luxury house rental business is undergoing a shift like any other industry.

There have been a lot of things set in motion in the luxury property industry since the beginning of the pandemic. In some areas, people are making quicker moves to snag luxury properties that provide the best amenities for at-home confinement. In some other parts of the world, people have employed the wait-and-see method, making business a bit slow.

Kyle Biskit has observed that the demand for luxury condos and homes has been high. It has taken the pandemic for people to realize what they’d want in a home. This is thanks to the amount of time they’ve had to spend online, admiring other homes.

The pandemic has not brought the industry to a stand-still, though. If anything, it has changed how people view luxury housing. The pandemic has roused a need for homes with modern amenities and dedicated spaces, which are mostly incorporated in modern luxury properties.

Another shift brought about by the coronavirus is digitalization. While the industry has been slow on the uptake of offering digital services, the pandemic has made it a necessity.

Now, luxury rental services are looking into digital ways of offering clients a first-class customer experience. Luxury entrepreneurs are therefore working overtime to attract clients to their digital platforms and are curating the customer’s journey.

Kyle Biskit also notes that an era of responsible luxury is upon the industry. It is no longer about splurging on the shiniest luxury item you find. Clients are now very conscious of what they want in a luxury home.

Many luxury clients whose industries were hit by the pandemic have become conscious of their spending. However, Kyle has also noted that clients whose businesses are doing exceptionally well during the pandemic are indulging in a bit of revenge spending.
Depending on how you look at it, the pandemic has been both a blessing and a curse to the luxury house rentals industry.

It has, however, alerted those in the business to the need for proper preparation to survive in any environment.