What do I need to know about COVID-19 and my rental?
COVID-19 is a once in a lifetime pandemic, and since many were caught unaware, it's caused confusion on all ends of the global market, including the apartment shopping and marketing experience.
In order to bring some light during these foggy times, here's some things to consider if you have or are planning on having a rental on the market:
- Get local - The national news is helpful for a top line view of what's occurring, but to fully understand rental policies around the Coronavirus, it's best to look local. Refer to your local realty board, newspaper and HUD for rental information and policies pertaining to COVID-19 in your city and municipality.
- Go paperless and get online - To avoid face-to-face contact and the exchange of paperwork, utilize online tools for screening, lease creation and rent collection such as our Rental Tools.
- Research tenant rights - Knowing the rights of your tenants is not only informative, it will help ensure your rental is compliant with local, state and federal regulations in regards to COVID.
- Stay connected - Provide all current and future residences with a means of contacting you. If you don't have a business phone or email, consider setting one up.
- Craft a clear entry and maintenance policy - Personal space is crucial with social distancing, so prepare a clear entry policy and be sure all renters know.
- Be prepared for tours - Online tours are the best way to fill a vacancy. If an in-person tour is needed, have a plan before you meet the perspective tenant. Additionally, try to be accommodating with hand sanitizer and soap for when the tour concludes.
This shall pass one day, but until then, utilize these tips to navigate the market until normalcy returns.