Eviction moratoriums are among the many steps the CDC has taken over the last year and a half in response to the COVID-19 pandemic. With the most recent moratorium extended through October 3, it’s time for property managers to start thinking about and preparing for that time so they can deal with it thoughtfully and carefully.
Halts to evictions were meant to protect renters from losing their homes even if they lost their jobs because of the pandemic and could not pay rent. And while they have done this, the moratoriums have made things challenging for property owners who rely on those rent payments. Getting tenants who can pay their rent into as many units as possible when the moratorium runs out will be a boon for property owners. Still, they also need to consider the tenants who could be evicted. They can do so by sharing as much information about the moratorium with tenants as possible. Keeping residents informed can help ensure that they take any necessary steps to prepare for how they will deal with their living situation in October.
Another step property owners can take to communicate with their residents is to talk to those who have taken advantage of the moratorium. See their financial outlook, and find out if there is a situation (such as a slightly reduced rent) that can benefit both the property and the tenants. Income is necessary, but reputation is as well, especially as things start to return to normal and the number of prospective tenants considering the property increases. Being known as a flexible, compassionate property that cares about its residents will attract new tenants in the future.
How can you attract new tenants to your community? Offer amenities such as free group fitness classes with a company like Power For Life Fitness. For more information, contact Power for Life Fitness today.