Plus Property Management Or

In my 30 plus years in the property management business I think it is accurate to say that this is the most challenging time I have ever experienced. With unemployment exceeding twenty percent paired with frustration and fear for both landlords and tenants being at an all-time high, Property Managers are more crucial than ever. Both landlords and tenants look to their property management company for reputable guidance. I must add, it has been heartwarming to see how tenants and landlords seem to understand the other side of the equation. PLUS has collected over 88% of the scheduled rents due. Now, that does not mean there are no hardships among our tenant population. There are numerous true hardships; cases of delayed unemployment checks, sudden job losses, tenants being denied eligibility for unemployment benefits and people borrowing money from their families in order to pay rent. My faith in humanity has truly been restored. Many of our tenants reached out to us prior to their rent’s due date if they knew they would be late. Some of our owners worked out rent deferral terms; not forgiving rent but agreeing to payments on unpaid rents due. The majority of owners have mortgages on their rental property and need the rent to pay these mortgages. Some owners agreed to wait for rent payment until the tenants’ stimulus checks arrived. Most owners waived late fees if the rent was paid in full. This is unchartered territory for the average owner and tenant and the fear of uncertainty is their enemy. The key to keeping the hysteria down is open and honest communication. Before the first of each month, we field frequent calls from tenants asking for assistance if they cannot make their full rent payment. We have found our tenants to be very responsible in getting their rent paid in a timely fashion and have not experienced too many issues despite the COVID Pandemic and the unemployment rate across the United States. We are thankful for you. Sincerely, Lawnae Hunter