The property manager acts on behalf of the owner to preserve the value of the property while generating income. While property managers design disaster preparedness procedures for their buildings, those procedures don’t include disaster management for a global pandemic. During this unprecedented time in our history, property management firms have had to react immediately to the crisis with creative and innovative thinking. Responding quickly to issues, firms have had to find solutions outside the scope of the traditional job description.

Thinking Outside the Box

My firm in South Florida has been able to ensure that 97 percent of their tenants continued paying rent during the course of the pandemic despite the uncertain market conditions. The firm had to think outside the box, as well as leverage their network and knowledge to make connections. Some firms are down to 70 percent rent collection, which not only bodes disaster for the tenants, but most landlords still need to come up with a mortgage payment every month.

Essential Workers

Property management firms are serving as essential workers helping their communities. Maintaining safe living and working environments for their tenants, property managers are doing more than negotiating rent challenges. Devising special cleaning and disinfecting procedures to mitigate the spread of the virus, firms have also created procedures for handling a positive case among tenants.

Consistently communicating procedures and next steps to tenants, property management firms are also reaching out to tenants in person to make sure everyone is doing as well as possible under the circumstances. Complying with social distancing rules, firms must distinguish the difference between emergency maintenance calls and those that can wait until the pandemic subsides to keep everyone safe.