As of November 2020, there have been over 13 million coronavirus cases in the U.S. The American economy has been badly hit by the pandemic. With the rising unemployment rate (currently standing at over 11 %.), many Americans have been unable to pay their rent. This has greatly affected the property management industry.
Late Rent Payments
Property management companies are having to deal with increasing situations of late rent payments, yet they still need to honor their obligations to landlords and continue maintaining properties. Property managers can’t evict tenants because of late rent until the Covid-19 federal moratorium expires on December 31st.
Effects of COVID-19 on the property rental industry in Atlanta, GA have been particularly dire. U.S. Government statistics show that nearly 25% of tenants in Georgia didn’t pay their rent for October 2020. Many more Georgian landlords are afraid that their tenants won’t pay their rent for November and December.
Supporting & Advising Landlords
Whether it is about rent reduction, expense budgets, or health measures, a property manager’s advice is valuable during this pandemic period. Property owners are worried about how Covid-19 will affect their investments. It is the role of property managers to constantly support and advise them. Being a central source of support to landlords in this crisis period will make the role of property management to grow even when the pandemic is over.
Our Specialized Property Management team in Atlanta can be counted on to provide beneficial advice and real support.
New Measures for Atlanta Property Management
Because of the coronavirus, we at SPM have formed new processes within our company for managing cases of Covid-19. New cleaning protocols have to be introduced, and we are strengthening the protocols that are already in place.
Specialized Property Management is here to support and advise Atlanta property owners during this pandemic period, especially when it comes to different health-related procedures. One thing that COVID-19 hasn’t changed is our professionalism and effectiveness when it comes to managing your properties. Our maintenance is still quick and high-quality, and we still screen prospective tenants with the same thoroughness as before.
