What Will Post-COVID Property Management Look Like?
Appfolio Websites • May 11, 2020
As the virus sorts itself out, here's how to get a step ahead.
We’re now months into the COVID-19 pandemic and, realistically, could be several months from a widely available treatment or vaccine. (But, hey, let’s be optimistic that we’ll see big-time progress sooner rather than later!)
Amid the speculation pertaining to the virus itself, there has been much speculation as to how real estate will be affected in the weeks, months and years ahead.
So much is still yet to be determined, while specific practices may be at the hands of various mandates and regulations. Until those guidelines are ironed out, there are some things that we can definitively say will apply to the post-COVID real estate realm.
Here’s what we see happening:
- Marketing will be that much more important.
Look at how the marketing of homes has changed throughout the decades. We’ve gone from solely yard signs and black-and-white fliers to an incredibly invigorating and dynamic marketing space. Post-COVID, folks may not be willing to simply stroll a street and walk into a property/building for a tour as they once were. So, beautiful, high-resolution photos and, in some cases, video/virtual tours will be that much more important. If you weren’t thinking about it before, it’s more important now than ever: How can you best showcase a property to help a prospective renter truly feel and appreciate the space?
- There will be an even bigger push toward digital services.
For some property managers, digital has been the way to go for years, spanning online portals, electronic payment options and document services like DocuSign. Perhaps we’ll see even more folks opting for digital convenience amid an influx of new, exciting technology that can help make everyone’s jobs and tasks that much easier.
- Those on their A-game will thrive.
Our local, US and global economies have all taken a hit in some regard. Compared to the absolutely thriving times before COVID-19, there may now be more property options for prospective renters out there. For property managers, now is not the time to slack and you must deliver your absolute best to ultimately retain and obtain tenants. Punctuality, seamless communication and reliability are critical now more than ever before.
To kick your property management efforts into high-gear, give Arlington Realty Property Management a buzz today at 703-836-2525 or email mypropertymgr@gmail.com.
Share this post
Let’s take a look at the hidden costs of managing your own property, and why it actually may be more cost-effective to hire an expert.
As local experts in Arlington real estate, we thought we’d break down why house flipping can still be a smart investment in this unique market while uncovering the challenges you need to prepare for.
Today, that nuance we’re discussing is occupied properties. What happens when you close a deal on a property that’s occupied with a tenant?
