Millions of people are in financial trouble as a result of the COVID-19 disaster. Many people have been laid off, suspended, or had to shut their enterprises. Others are struggling with medical expenditures from a stay in the hospital or mourning a loved one's death due to the pandemic.
Landlords around the country are in a tight place as a result of so many renters pleading for rent relief. Property management is costly, and while the ability to remove rent would be fantastic, it might cause far more serious damage.
There are still some options available to people if they are attempting to find out how to assist tenants during these challenging times. Continue reading to learn about alternative methods to assist and show that a person as a landlord cares without sacrificing the rent.
1. Stay Updated on the Pandemic
To begin, one should make certain that they are getting the Coronavirus information from a reliable source.
For the most up-to-date information, look to reputable organizations such as the World Health Organization. Don't believe what one's Facebook friends say or what biased media outlets say. The number of cases in a particular location and new safety guidelines may have an impact on how people maintain the property.
Consider delivering the tenants weekly pandemic updates via email. Landlords should inform them about the present situation in the area. Also, any safety protocols in place and any limits on the premises. This shows them that the landlord is aware of the situation and is looking out for mutual benefit.
2. Decrease Ways of Contact
To flatten the curve early in the epidemic, all important operations were either placed on hold or transferred to working remotely. Even while many companies have reopened, the best approach to protect oneself and others is to reduce interaction.
Close the office as much as possible and do the work from home. One could choose to limit office hours to one person at a time or only meetings by reservation. When a meeting is unavoidable, have everyone wear functional masks and exercise social distancing.
Also Read: Are Tenants Responsible for Lawn Care and Garden Maintenance?
3. Keep Track of the Landlord Responsibilities
The requirement to offer services to tenants persists even amid a pandemic. Nonetheless, to reduce disease transmission, a landlord may need to alter their strategy.
Because COVID-19 has been shown to spread by contact, it is critical to clean and disinfect all common locations regularly. This covers the office, the lobbies of the building, and the corridors and stairways of the apartments. If a landlord manages single-family homes, they should give the renters instructions on how to disinfect their places.
When feasible, one should keep house visits for scheduled maintenance inspections to a limit. Instead, they should check in with a video chat software like Zoom or Facetime.
4. Adjust Rent Regulations
Even if one can't eliminate rent, they might be able to help the tenants who are struggling. Landlords should examine the late charge policies to see if they can be loosened. Also, they should try to offer flexible options on a particular instance basis. It's preferable to assist a responsible renter through a difficult period than to be caught off guard by a sudden vacancy.
The Bottom Line
In an ideal world, people would be able to provide complete rent relief with no negative consequences. Until then, one may show their tenants that they care by using this guide on how to aid them in different ways while still covering their expenditures.
A competent property management company will be an excellent choice if landlords need some extra help. They are there to offer exceptional service to renters during these hard times.
