Ways Property Managers Can Prepare for an Unpredictable Future
At the beginning of 2020, no one could have imagined that a simple infection lingering in China would start wreaking havoc around the world in a few months’ time. While the COVID-19 pandemic has been around for a while now, the number of cases is still rising in the US, and we never know what’s next.
In uncertain times like these, the responsibility of property managers further heightens as other people rely on them for staying safe and safeguarding their interests. When faced with an unpredictable future, such as a pandemic, property managers need to cover various aspects of preparedness, communication, and business operations to address the needs of different stakeholders, including owners, residents, investors, tenants, and at the same time, protect their business. Thus, property managers in New York, New Jersey, and Florida should prepare for uncertainties during the pandemic. Here is how they can do so:
Plan Safety Measures
Take the time to plan how you’d make your property management activities safe for all stakeholders. Implement preventive measures in the existing cleaning strategies in all the properties you’re dealing in. Increase the number of times the property is sprayed with disinfectants, particularly in the common areas, conference rooms, and shared spaces.
When cleaning and disinfecting, prioritize high-touch surfaces and accessories such as the doorknobs, elevator buttons, common area seats and tables, etc. Also, provide COVID-19-related signage for properties to keep reminding people of aspects like social distancing, wearing of masks and other protective gear, and instructions from the CDC.
Go Digital
Consider replacing face-to-face meetings with tenants and other people with digital alternatives. Collect all contact information from the tenants and other stakeholders so that you can timely remind them of any appointments and rent payments.
When it comes to holding appointments and rent payments, drive tenants to web-based portals, services, and apps. Your online services should serve as keystone for clients to make applications and leases online so face-to-face meetings aren’t necessary.
Instead of relying on open-house viewings to market your properties, use social media platforms and online directories to reach your target audiences and market your vacancies to them.
Ensure Tenant Obligations
For properties that are rented out, set out the COVID-19 instructions and requirements for tenants. It should cover regular sanitizing of the spaces, social distancing guidelines, etc. Make sure that tenants follow the safety protocols, such as wearing masks and maintaining distance from others.
Leverage Technology to Showcase Properties
Property managers in New York, New Jersey, and Florida should also stay informed of the changes in the guidelines from the federal and state government as well as the changing landscape of owner and tenant needs to ensure effective contingency plans.
Since no one knows about the future of commercial vacancies in New York, New Jersey, and Florida, real estate managers should consider switching to digital alternatives, such as uploading 3D videos of spaces that expanding businesses can explore via mobile apps.
Property Managers In The Northeast
To sum it up, the only thing that has remained constant through this pandemic is change. This will likely continue throughout 2020, so property managers in New York, New Jersey, and Florida should learn to become adaptable. Contact the team at Milbrook Properties today for more information.