The rental market was special hit hard by the pandemicRenters are more likely to have socializing jobs, where the economic impact of the pandemic has been worst.
In this uncertain time, many tenants have relied on the easing measures or the flexibility of the property managers under the CARES Act. Therefore, communication between property managers and their residents is of the utmost importance as, among other things, residents overcome uncertainty about paying for their next month of rental.
“We purposely switched to low-tech and we went high-touch last year,” said Tony Julianelle, CEO of Atlas Real Estate, Inman during a telephone conversation. “When you think about someone experiencing job loss and the hardship that comes with it, the opportunity to feel cared for by their property manager is very real.”
In response to the pandemic, Atlas Real Estate, which operates an investment brokerage and property management company, decided to create a new position on its team called Resident Resource Manager.
This person was essentially keen to help residents gain access to relevant resources during the pandemic, including help with applying for unemployment and finding local nonprofits that provide housing assistance. They also sent notices of active discontinuation of industries, statements on the eviction moratorium, and generally offered an open ear.
“Honestly, it only gives us one opportunity,” said Julianelle. “Many stories grew out of the challenges people faced and their ability to easily discuss them with someone.
“Think about it, you probably have someone in your life that you call if you just want to talk through [something]and that’s hard to do when you run into financial hardship or lose a job. You need a safe place to have this conversation. We purposely didn’t make this their property manager so they wouldn’t talk about it Renegotiation of rental agreements and such things.”
Julianelle explained that Atlas made the resident resource manager available on-demand through a scheduling tool called Calendly, and through regular SMS and email newsletter communications to ensure residents were aware of the new resource.
But, Julianelle said, when some residents started connecting with the resident resource manager, the news quickly spread.
“What we found was a lot of people telling other residents in the building about it,” he said. “Hey, I got a call from this person, it was amazing. You should call [or] You should email them and get the help you need. ‘We have found that this works well for us and fits very well with our corporate culture and ethos. “
Communication between landlords and tenants hasn’t changed too drastically for many properties that operate under Boston Pads on a daily basis, CEO Demetrios Salpoglou told Inman. However, he said that due to the close relationships that already existed between many landlords and their pre-pandemic residents, residents have proactively offered to help managers market their property if they need to move elsewhere as a result of the pandemic.
“[What’s] It was very, very interesting how great and cooperative the tenants helped us with the marketing in case they should leave the property, ”said Salpoglou.
“A good dialogue with them was enormous. And one of the things we noticed is that a lot of tenants don’t come over to look at the property, but are ready to tidy up their interior, make it look nice and take pictures and the videos [themselves] from their unit and send it to us and market it on Boston Pads. “
“[So] There is less human interaction while showing the property, and you may have a tenant moving out or taking a rental break, or wanting to be rented because they want to move out of town. They have been very cooperative because they also want to reduce the number of screenings, ”added Salpoglou.
“As long as you keep your communications high with your tenants, have managed their properties superbly, have been a great landlord or just a professional realtor, it’s not that big of a barrier and communication is flowing.”
Salpoglou couldn’t talk about how many individual landlords went out of their way to communicate with the regular updates CARES Act to tenants or other COVID-related issues. Still, he found that every tenant has a unique situation that landlords consider if necessary.
“For what we do, we manage properties and rent the properties. We take care of the property issues and communications and make sure they flow,” Salpoglou said. “When you run into certain situations, I think you deal with them specifically for each particular task.”
Overall, however, Salpoglou stressed that maintaining relationships with tenants is vital.
“I think it’s what you brought into the universe that comes back to you,” he said. “When you do a great job, you have great tenants, they work with you, you are all on the same page, we all have the same goal and it works. Much of what you reflect on the world comes back … we’ve noticed that so far. “
In a recent post for ForbesDavid Crown, CEO and Founder of LA Property Management Group and Crown Commercial Property Management, stressed that despite the vaccines now available and a possible end to the pandemic, property managers need to maintain communication with tenants so that business can thrive beyond the pandemic .
“I’ve seen smart property managers show compassion for their tenants by listening and listening to the details of their needs, rather than setting a zero-tolerance precedent,” said Crown.
“I’ve seen tenants get to know them as well as possible. It all starts with the fact that both parties can speak freely with each other. At our company, we have better relationships with our tenants than ever before, and I know we’re not the only ones. Because of this, we don’t plan on simply going back to the way we did business before all of this. We will maintain the level of communication that we have achieved with our tenants. “
Each tenant’s adaptability and sensitivity to the pandemic at this point will undoubtedly vary widely. However, it is important for property managers to remember that many tenants may do this I still feel that their situation is precariousFor financial or other reasons, regular check-ins – regardless of whether they are needed or not – are still welcome.
“I’ve checked all of my tenants to see how they’re doing and if they need help,” Tanner Montgomery, Skyhawk Custom Homes CEO and founder, told the end-to-end landlord management platform Available. “So far everyone has only settled at home, but they appreciated being checked out.”
Email Lillian Dickerson