The COVID-19 outbreak is presenting unprecedented challenges to property owners—the virus did not get notice that vacant property still needed to be filled. With social distancing guidelines in place, it is very risky and daunting owners questions to showcase rental homes to potential tenants. However, the “stay-at-home” orders are exempting key real estate activities, particularly property viewing, since residents still need to locate ideal places to put their heads. Before showing and marketing your rental property, it is important to check your state or local restrictions on real estate activities that protect landlords and their potential tenants. In this blog, we share ideas on how to effectively and safely show and market your rental property during the pandemic to limit the risk of illness exposure.
Local Leasing Channels and the Use of Technology
When leasing a home, innovation and technology are crucial for every property owner. Even without considering the COVID-19 crisis, investing in technology always comes in handy, especially during an emergency. Although tenants may still want to rent homes, they may not be comfortable going to view the property in the presence of a leasing agent. Thus, a lot can be done by the property owner to ensure that their viewing is still conducted, ranging from providing hand sanitizers and masks to using smart keys and lockboxes that enable tenants to view property even without the presence of an agent.
With technology, tenants can eliminate “in person” contact during a property viewing. For instance, questions regarding the property can be answered via a phone call, while apps like Zoom and Skype could help to arrange for interviews with potential tenants. As for showing the property, property owners could use online photos and property management apps and software to show the property virtually, evaluate applications, and sign the leases even without meeting the tenant in person. Furthermore, deposits could be collected through Venmo, Zelle, and PayPal.
It is also the job of property owners to ensure that their property is marketed to potential tenants. And the COVID-19 crisis has changed the property listing processes; tech-savvy investors are now listing their homes online, giving video tours online, and investing in quality property photographs. Property owners have equally embraced the “green” business ideology, in which they use electronic signatures.
Online marketing platforms can be used to reach a pool of tenants. As a homeowner, online marketing can help you get access to a large number of tenants who view your listings, schedule showings, and spend time knowing about the property. With the right technology resources, you can partner with plenty of residential tenant services to get your property listed on several sites.
Social media also remains a significant property marketing platform. Locked down at home, many potential tenants spend most of their time on social media. First of all, ensure that you are present in all the social media channels that generate real estate leads. Understand the format and type of content that every platform uses to create unique posts. As a property owner or real estate agent, you should also include the right hashtags with every post, as this will boost your marketing efforts. Generic hashtags such as #realestate, #homestolet, #housestorent will help to expand your reach to property buyers.
Application and Leasing During the Crisis
With the low demand for housing, no property owner wants to delay the leasing process. Everyone wants their home to get rented, and tenants want to move to a well-maintained clean home. You should, therefore, make sure that your application is completed online, and the process of sending supporting documents such as pay stubs and driver’s license should be easy for all the tenants. With paperless leasing, you will not have to worry about printing papers, filling forms, making copies, or manually distributing the forms.
Amidst the COVID-19 crisis, tenants still want to view and rent a property. But they won’t want to risk their lives by hanging around a leasing agent. Premier Business Investment allows you to learn how to give your tenants a complete tour of your home alone. The company will also give you a range of technology products that will support your showing and viewing processes. Premier Business Investment ensures that you have an efficient home leasing process that is exposure-free.