Coronavirus Resources for Landlords
Guides and reports to help landlords navigate the COVID-19 pandemic. Read below for helpful FAQs.
Learn how to go through every step of the rental process virtually and online with helpful resources and tools.
Create a Virtual Showing
Learn how to easily plan, create, and upload a virtual showing to enhance your rental marketing and fill your properties faster.
Coronavirus and Rentals
In an effort to help alleviate some stress, we’ve curated a list of resources and tips to plan, prepare and respond to COVID-19.
Rental Market Trend Reports
Our market trend reports are designed to help new and existing landlords understand the rental market trends in their areas.
Helpful Links and Resources
Trusted information from sources like HUD, the CDC, and the NMHC.
Single Family
Multifamily
Evictions
Tracking
COVID-19 Landlord FAQs
General Renting
How should I collect rent during the pandemic?
We encourage landlords to avoid handling in-person payments, cash, or checks to remain sanitary and safe. TurboTenant now offers secure and online rent payments through bank transfers or credit/debit cards – you can also charge one-time fees for utilities. Additionally, there are various forms of easy online payment tools such as Venmo, PayPal, and Google Wallet that are great options for collecting rent virtually.
How should I do lease signings during the pandemic?
Since you should be completing the rental process virtually, face-to-face lease signings are not recommended, using an e-signature platform will enable you to safely and securely sign the lease with a tenant. TurboTenant has an e-signature tool available, or you can use other services such as DocuSign or Adobe Sign.
How should I be communicating with my tenants during the pandemic?
Communication is one of the most important things you can do as a landlord during this crisis. Because you won’t be seeing your tenants in-person, you need to establish an open line of communication for them so they know you are available to help. Read this blog to see all of the phone, email, chat, and video tools available for you to communicate with your tenants.
Marketing
How do I do showings virtually?
With social distancing being encouraged by health and government officials, it is important as a landlord you follow protocols and protect yourself and your property. While in-person showings are discouraged, technology makes it possible for you to do a video tour of the property. A simple phone video of you guiding viewers through the rental and pointing out important features will help give prospects a good idea of what the property looks like, and hopefully lead to them being more interested in your property. Here is how to upload an iPhone video to YouTube, and here is how to upload an Android video to YouTube.
Tenant Screening
Do I still need to run a screening report during the COVID-19 crisis?
Yes, you should still want to run a thorough tenant screening report during COVID-19. Now more than ever you need to protect yourself and your rental business which means screening is still very important – tenant screening allows you to get quantitative data points when evaluating prospective tenants.
What if a tenant has a low credit score from the effects of the pandemic?
Credit scores are usually a very important indicator of if your tenant will be able to pay rent on time – usually, a score of 560-850 is an acceptable range for renters. However, with current circumstances, you may see lower credit scores than usual. Talk with the tenant about other options, for example, here are some ways tenants can rent with a low credit score, such as, a co-signer.
What if tenants can’t provide proof of income at the moment?
Unemployment is rising in the U.S. and that means some of your tenants might be out of jobs. While tenants might not be able to provide current proof of income, you should still ask them for old pay stubs, or even encourage them to have a co-signer on the lease. For example, The Federal Housing Finance Agency recently relaxed its standards on employment verification to accept alternative forms such as a recent paystub as many businesses have shut down due to the virus. Being flexible and letting tenants know their options is crucial during this time.
Disclaimer: TurboTenant, Inc does not provide legal advice. This material has been prepared for informational purposes only. All users are advised to check all applicable local, state, and federal laws and consult legal counsel should questions arise.
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