Renting out your property while in a pandemic
We are all having to reinvent the way we do things right now. Property Management is no different. You don’t have to pause your dreams of having an investment property delivering an income just because there is a pandemic. People still need a place to stay, and property management has been deemed an essential service.
In this post, we will show you how you can still get your investment property to work for you. We have 4 essential topics to consider for property owners
COVID 19 tips for Landlords
1.Negotiate a payment plan with your tenant if they cannot pay their rent. Waving a late fee will help the tenant to work with you
2.Divide out the missed month’s rent among the remaining months on the rental contract
3.Defer the payment until the last month of the lease
4.Work with your tenants, and let them see you are willing to meet them half way
5.Use the security deposit to settle the rent owed. This is only recommended if the lease is close to the end
Strategic ways of getting properties rented
Help for properties standing vacant
1.Do a virtual walkthrough – go to the property and use an online platform to show them the property live
2.3D/Virtual tour – this gives a good impression of the property
3.Acquire an electronic lockbox to store keys or give access. the prospective tenant can go to the property themselves and look
4.Use a leasing agent to show the tenants the property. Leasing agents could possibly even have a pool of tenants available to show the property
Solutions for renters to pay their rent
Sharing their screen and showing the resources page from their county explaining each resource
TrustHome Properties has experience in renting out properties during this pandemic, and is committed to delivering the service you expect. Please come and chat to us if you have any questions, or would like to find out more, we are always available to help.
