Renting During a Pandemic
While you had big dreams for your rental investments, you may find yourself dealing with a unique situation on your hands. Many owners are finding that the COVID 19 pandemic has made rentals difficult. That’s why it’s important to take stock of your current situation and consider hiring a Chicago property manager.
Here at Connected Management, we provide a wide range of services to help you stay on top of your rental properties. We work directly with small to medium apartment or condo complexes to help you stay on top. While most thought this would be over by now, the effects are still being felt.
Here’s a brief look at how this is affecting the rental market as a whole and what you can do to work through it.
You may find that tenants are struggling to stay on top of their rent with job losses and shutdowns. It’s important to stay updated on the latest methods to pay and also what is being put out as far as legal regulations. For a time, evictions were not able to be done. It was unlawful to do so. Staying updated on all the changing regulations can be difficult. That’s why we’re here.
When you need to offer new options for payment, you can do so with our technology. Working through our team makes it easy to accept payments online. This not only protects you from contact, it also helps with making sure your tenants can pay you no matter where they may be.
Rise in Co-Living
As an owner, you’ll probably notice a rise in co-living in some of your apartments. This is similar to a dorm atmosphere. Families that are struggling may turn to this to help pay rent and offset costs.
Even in the midst of a pandemic, you must fill vacancies as fast as you can. In some areas, it is feasible to do a virtual tour of the building versus in person. The property manager in Chicago you go with should be able to help you do just that.
It’s important to stay on top of the latest updates and trends when it comes to renting out your apartments. The best way to do that is with the staff here at Connected Management. We make renting out your condo easy and seamless even in these trying times. Ensure that you have the best possible options for your tenants and yourself by working with an experienced Chicago property manager today.