increased focus on screening tenants, the automations and optimizations that rental management software provides, the increased security of online document signing, and the ease of online rental payments and virtual tours were all solid practices before the pandemic began. Though the virus has caused their popularity to increase, there is reason to believe that this popularity will continue even after the country and the rental property market recover. 87% of property managers believe digital communication is here to stay as the primary method of communication, according to the National Apartment Association. It’s also worth keeping in mind that the pandemic isn’t based in panic. The housing crisis of last decade was rooted in a gross misevaluation of subprime mortgages. The crunch that landlords have felt has hurt, but the industry isn’t fundamentally flawed. The effects that the market
87% OF PROPERTY MANAGERS
BEL I EVE D I G ITAL COMMUN I CATI ON I S HERE TO STAY. . .
have increased screening standards since the start of the pandemic. Simply put if you aren’t screening, you’ve cost yourself money, especially during the pandemic. Per our data, despite the adoption or tightening of screening standards, there hasn’t been a noticeable increase in screenings per unit. This suggests that the adoption of screening practices may have made landlords savvier in pre- screening as well, resulting not in more candidates but in higher quality candidates. Lasting Impact Although we all hope the coronavirus goes away as soon as possible, some of the adaptations that landlords have made may become new norms. The
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