For any landlord or property manager, the emergence of COVID-19 meant challenges you might never have predicted. Mass layoffs and economic difficulties have led to some tenants being unable to pay rent. Now, nationwide eviction moratoriums present another issue for landlords to manage.

You’ve likely already integrated a series of new procedures in navigating business with the virus in mind. Social distancing and face masks are probably part of your new ‘business as usual.’ However, a proactive approach to property management means a reassessment of your practices in order to best navigate pandemic difficulties.

Here, we lay out a series of tips for communicating with tenants, repairing properties, and cultivating investments during these unpredictable times. 

Develop a Strong Digital Platform

First and foremost, your property management/landlording business should be operating with a strong digital component. If you hadn’t already set up such a platform, now is the opportune time. 

With an online portal, you can receive rent payments, manage maintenance requests, sign and send documents, and communicate with tenants all from a safe distance. This process isn’t just safe—the added convenience is much appreciated by tenants. 

In a world where more millennials and Gen Z are renting, you can’t afford not to embrace a digital business model.

Implement Virtual Tours and Business Meetings

In the same vein, social distancing procedures mandate the integration of virtual tech. This can actually save you a lot of time and effort in your day, reducing transportation costs and commute time wasted. 

Virtual tours of a property are useful to showcase a unit to prospective renters without putting anyone at risk. This is especially helpful if the unit in question is still occupied. Modern smartphones have quality cameras enough to give an effective showing of the property. The lighting and staging, however, are up to you. 

For other meetings and communication, consider one of your many virtual options. Some popular ones are:

• Zoom

• Google Hangouts

• Microsoft Teams

• Free Conference Call

Maintain communication with tenants and prospective tenants without putting anyone at risk. The same goes for other business functions.

Worried about liability issues with staff and contractors? Virtual meetings are the way to go. 

Maintain Consistent Tenant Communication

Navigating the COVID economy as a landlord or property manager is all about communication. Being available to hear and address tenant concerns, make compromises, and share information are vital in mitigating losses that may arise out of current events. 

If your tenant has lost their job or had financial complications due to COVID-19, it’s best that you know right away. Cultivate a relationship with tenants that allows for them to be open with you. When something comes up, you will be notified and can better prepare.

This can be helpful in managing problems like the eviction moratoriums. To qualify for protection, tenants have to make a best effort in making at least partial payments. Being able to communicate this with your tenants ensures they are doing their best to pay as much rent as possible, regardless of circumstances.

Prioritize Safety of Tenants, Employees, and Contractors

While you have to consider the bottom line, you must be always cognizant of the safety and well-being of tenants, employees, and any other help you hire. This means managing an effective policy for social distancing, PPE, and sanitation. 

Property management is your business, but for your tenants, the property is also their home. Be sensitive and empathetic if needing to come onto the property. Follow CDC guidelines while giving the proper notice to tenants and making sure to address any safety concerns they have. 

If you operate a multifamily unit, follow strict sanitation and social distancing measures in public areas. Be clear about the rules, and communicate constantly on all available platforms. 

Focus on Emergency Maintenance Only

You don’t want to deal with undue risk, for your own health and for your tenants. That’s why maintenance as a rule at this time should be kept to the necessary. 

Emergency maintenance should be carried out with the proper facial coverings and distancing where possible. For all other maintenance, consider rescheduling for a time when your property will be unoccupied. 

Non-essential repairs should be addressed with tenants properly beforehand to ensure comfort. The last thing you want is to run into any health concerns and liability issues on top of pandemic struggles. 

Stay Up to Date on New DevelopmentS

Finally, the best way to prepare for all pandemic curve-balls is to actively follow news around housing assistance and relief programs. It seems like every other day that a new proposal or order is being pushed forward at various levels of government. At any moment, a change could throw off your budgeting and planning. 

Consider subscribing to property management blogs and newsletters as well as your usual news sources. The eviction moratorium coming out of the CDC may have been a surprise. Keep yourself notified of each new announcement in order to best communicate with your tenants. 

All in all, managing a property in the pandemic world means thorough and active communication. Technology helps you in that regard. Maintain safety measures and stay informed in order to take a proactive approach that will help your returns even in the fallout of the coronavirus. 

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