May 19, 2020
How Landlords can Sustain their Business through COVID-19

Nowadays, with everyone staying indoors due to the COVID-19 outbreak, many of the trappings of daily life have become upended. Businesses are adapting to a remote working environment, people have turned to online entertainment and messaging, and renters and landlords are struggling with payments.

Nowadays, with everyone staying indoors due to the COVID-19 outbreak, many of the trappings of daily life have become upended. Businesses are adapting to a remote working environment, people have turned to online entertainment and messaging, and renters and landlords are struggling with payments.

Though getting new tenants may not be a priority in this unprecedented time, it falls upon an owner to keep the lights on in their other properties. This is so that current tenants will have somewhere to shelter in place, and the landlord will not lose his own stream of income. You can ensure sustained interest in your properties through some practices in marketing rental homes outlined below.

1. Put social distancing as a priority

If you are able to do so, switch out the locks on your vacant units and install a keypad lock, as this does not require keys. If a prospective tenant is interested and able to rent, you can just give them the lock code instead of transferring keys to them, which requires physical contact.

It is also a good idea to screen individuals for symptoms of the coronavirus before showing them your property. Make sure all interested individuals complete a COVID-19 questionnaire. Bear in mind, though, that some carriers may be asymptomatic, or some people may be reluctant to self-report. In all cases, it falls upon all parties involved to ensure proper social distancing methods, such as limiting contact, washing hands, and disinfecting surfaces.

2. Take a multimedia approach to advertising

Normally, you would want to meet potential clients in person. Today, however, it is not advisable to do so. Currently, Ottawa is still under lockdown, and there are serious restrictions on movement that limit prolonged face-to-face interactions except with household members.

You can take away the need for in-person contact by using technology. Receive questions about the property through video conferencing tools like Skype and Google Hangouts. You can also use online photos and property management apps to give virtual tours.

Evaluating an application, signing the lease and collecting the first deposit can also be done online, through various digital platforms. Once you have a tenant ready to move in, you can set a time for the drop off of the keys. Practice social distancing when doing so: leave the keys somewhere you can see them and wait for your tenant to retrieve them before you leave.

3. For physical tours, provide methods for disinfection

In the event that the city relaxes its lockdown requirements, rental agents and landlords can begin showing prospective tenants the properties in person. Social distancing practices should still be observed, though, and they should be made a part of the house touring process. Leave a disinfectant spray or wipes at the doorway, and in key areas of the home.

Rather than showing the tenant through all the rooms, instead, you can go on a video call with them as they tour the home themselves. Be sure to put the application near the door, so the tenant can sign it if they find the home to their liking, and use the drop-off method outlined in the previous item to transfer the house keys to them.

4. Keep in touch with them constantly

For both old and new renters, you can take the extra step of providing them with news and updates on renter aid in the city. If you are knowledgeable about how to combine unemployment benefits with tenant assistance programs, share this information with your renters.

You should also keep communication lines open with your renters. They might not be willing to disclose difficulties to you, so be the first one to speak with them about their financial situation and how you both can help each other through this trying time.

Conclusion

The real estate industry, as with many others, has taken a serious hit because of the coronavirus. Landlords can still ensure steady interest in their rental homes by allaying prospective tenants’ fears and providing physically distanced ways of viewing their property.

For property management in Ottawa, get in touch with Fahel and Co. today.