Property Management Practices: post pandemic
The pandemic has changed almost every part of our lives, and property management practices are no exception. Almost every industry has been forced to adapt in one way or another and the rental space is no exception. However, property management businesses, landlords and tenants have all discovered new best practices post pandemic. Many agents and landlords have found themselves implementing virtual practices to keep their businesses running and tenants safe.
Whether it’s a global pandemic or not, virtual inspections can come in handy. With the help of technology and a bit of creativity, even routine inspections can be done virtually. It’s a proactive approach that can keep landlords and tenants safe, while also meeting landlords needs in these uncertain times. A quick and easy way to get started is to use video conferencing applications like Zoom.
Online application process
Whilst it’s important to meet tenants in person, there’s no reason why the application and signing process can’t take place digitally. Some landlords choose to use management software applications, however using an agent can remove the stress involved in the process. Some programs even allow you to sift out unqualified tenants, although some landlords find managing properties themselves a false economy. Many landlords feel the process of managing tenants in the current climate a headache worth passing to an agent!
The pandemic has affected everyone but being in communication with tenants will help to understand any issues that night arise. Perhaps tenants have lost their job, are facing financial hardship, or have fallen sick and are unable to work. Either way, it’s much better that you know about it upfront and work with them to come up with a solution. The alternative is you not being able to prepare for a situation until your renter comes up short on their monthly payment. Encouraging open and honest communication with tenants will improve the relationship for everyone involved. It’s also important for landlords to update tenants on the latest government regulations.
As we all continue to navigate these unprecedented times, Thompsons Lettings are here to support landlords with our property management service.