16 Jun Property Management Tips
Property Management Tips
From keeping your business up and running to ensuring your tenants safety during the Coronavirus, we offer some property management tips for landlords during COVID-19. Since the pandemic has taken root in California, it continues to affect all facets of life for property managers, owners, and tenants. While most tenants have continued to make paying rent a priority, some have little to no confidence in their ability to do so. As a result, it’s incredibly hard to know if you can count on rent being paid.
For landlords and property managers, when it comes to essential services, maintenance, and property showings not all of the rules are laid out in black and white. So, trying to figure out what is or is not okay, can be overwhelming. Whether you are wondering how to prioritize maintenance requests, or want to know how to deal with unpaid rent during COVID-19, we offer some property management tips here.
The information provided here does not, and is not intended to, constitute legal advice; instead, all information is for general informational purposes only.
Property Management Tip #1: Plan, Prepare, and Respond
Come up with a plan of action on how you will operate during COVID-19. From property inspections to fulfilling maintenance requests, keeping your tenants, associates, and vendors safe is of the utmost importance. With resources available to help you like the CDC’s guidelines for prevention, share them with your tenants as part of your plan to keep everyone safe.
Know your state’s local guidelines and regulations in response to COVID-19. Especially when it comes to your policies, including evictions, delinquencies, and lease renewals. One of the best things you can do right now is to communicate with your tenants. So, share your plan and utilize your resources and technology to keep your business up and running during COVID-19.
Property Management Tip #2: Rent Collection Amid COVID-19
Today, more tenants are starting to seek rental assistance programs which suggests many are struggling to make full rent payments. While rent collection should continue in accordance with your lease agreement, recognize that some tenants have been or will be financially impacted by COVID- 19. For this reason, try to work with those residents on alternate payment schedules and consider waiving late fees.
How To Deal With Late or Missed Rent Payments:
- Have A Plan
- Give Them Options
- Offer A Deferral Plan
Property Management Tip #3: Perform Emergency Repairs ONLY
When it comes to handling maintenance requests during COVID-19, there are many things you should consider. Although it is your responsibility as a landlord to ensure you fulfill them, during times like these it’s important to limit in-person interactions. So, to limit your exposure, defer non-essential maintenance and perform emergency repairs only. Things like pre-renewal inspections and standard interior preventive maintenance, are items you should consider deferring for now. In addition to this, always follow your lease agreement and perform all necessary repairs.
Emergency Repairs (Examples)
- Broken air conditioner or heater
- Roof leak, leaking dishwasher
- Sewage drain backup
- Mold growth
- Smoke or fire damage
- Broken appliances (washer, dryer, refrigerator, garbage disposal, stove)
- Broken locks
- Clogged toilet (if only one bathroom)
- No hot water
- Gas smells
- Power outages
Operating During COVID-19
The reality is, no one really knows how quickly we will get back to normal. And, some even say this is our new normal. To keep your rental business up and running during COVID-19, there are many things for you to consider. The challenges associated with COVID-19 can be very hard to navigate especially when you are working without a team. For this reason, you may want to consider hiring a property management company to help you.
Whether you are looking to change property managers or simply want to hire one for the very first time, we can help. We manage all types of residential properties including homes, condos, and multi-family properties such as duplex and triplexes, and even small apartment buildings. If you are interested in saving time, money, and the stress that comes along with managing your own rentals we have a management solution that is right for you. Call us today at (858) 576-2176.