Education and news for smart DIY landlords!
The pandemic has struck us all, and it has struck hard. For landlords and business owners, our business earnings and savings can make us survive until the quarantines are over.
But what about others who aren't so fortunate? As we flatten the curve of the viral spread, let’s flatten the curve of negative emotions from financial suffering as well. One place to start is to care for our valued tenants. How? Let’s explore some below.
Some tenants might be paying rent based on a month-to-month salary basis. As they lose their jobs due to the pandemic, financial struggles are sure to be experienced. Food is their top priority for now. You can postpone rent payment until the pandemic is over or you can make it free for now.
Skype, Facetime, and Messenger are useful tools to stay connected. Call your tenants or message them to ask about their current situation. It’s very reassuring to know when someone checks on our welfare especially when they’re not blood-related.
A simple inexpensive gesture of flowers brightens up the atmosphere of a world riddled with gloom from isolation. Attach a card with a heartfelt message and send food along with it. When you have extra money, why not spend it on helping others?
Your tenants are bound to go out. Whether it’s for stocking of necessities or for work, they’re at risk of infection. You can buy and give them masks or make them yourself. Show your concern not only about their welfare indoors but also about the outdoors.
There might be a shortage of supply on the marts and pharmacies but if you have stocked extras to spare, it’s good to share some. You can also share tips on how to make a DIY hand sanitizer.
When you’re in a position to pass quarantine and travel to the groceries without restriction, kindly offer help to your tenants who can't. Take their lists and buy their groceries for them. If they cannot afford and you have money to spare, show compassion by aiding to provide care packages.
The pandemic isn’t just a health issue but a mental one as well. People stuck in isolation feel lonely and depressed. Send a picture or video of a cute animal playing. Or send some jokes that you’ve learned. It doesn’t matter if it’s corny, it’s the thought that matters.
If you’re a landlord with not much finances for helping others, you can start a fundraiser. Let your much more fortunate tenants join in or other landlord friends who are interested to help. The virus cannot be stopped if the world doesn’t cooperate. Remember that we can heal as one.
This applies to tenants that are minorities particularly Asians. It’s true that the virus came from Wuhan, but that doesn’t mean that all Asians are virus carriers. Don’t stand for racism and don’t let any fake news pass. The real enemy is a virus and not a race. You can start a discussion with your tenant on the phone saying that it’s not a racial thing but merely an uncontrollable force of nature.
When in a call or text with your tenant, just simply say, “This will all be over soon. We’ll get back to our normal lives. Don’t lose hope. We’re all in this together”. These are some of the greatest weapons to keep spirits up during these times. We have to make them feel that they’re not alone.
The COVID-19 pandemic is a serious global health concern. While there is no vaccine yet, all we can do is practice social distancing to flatten the curve. Yet, we mustn’t also forget that the quarantines are starting to impact our tenants' mental health as well. In order to fight that, we must help each other with kindness and compassion so we can all heal as one!
If you’re ready, make Landlord Prep your go-to resource for landlording education. Here, we offer a complete DIY landlording course to get you on the right track. Join our academy today. If you want, you can check out Flavia’s real estate investing webinar first!