The COVID-19 pandemic has disrupted all aspects of living, including property rentals. The impact on the economy has changed how we do things: most people are only willing to spend on basic needs. This consumer behavior is most likely to carry over even after the crisis, which will affect other industries including apartments and vacation rentals. In this light, property owners need to position themselves properly in order to score rental deals after COVID-19. They must look carefully at tenants’ preferences and create unique aspects in their properties that will support the new normal way of living. Here are a few ways property owners can align themselves to attract rental deals after the crisis.
1. Prepare For Cramped Up Spaces With Travelers
Spring break is coming early next year, and, hopefully, the world will be opened up for travel. While the crisis has greatly affected the financial standing for most people, the majority will still take the much-awaited breaks to travel. After all, it has been a long while indoors and people are craving fresh air.
Most likely, vacationers will travel in groups in order to cut costs. Family Vacation rentals in Florida, for instance, will have no choice but to hold excess numbers of people in one room for the upcoming spring break in Florida. The impact will be dealing with noise complaints from neighbors, limited parking spaces, and overflowing dustbins.
Vacation property owners who will be able to handle such situations will gain an upper hand in attracting tenants. They then need to rethink alternative parking spaces and regular cleaning out of dustbins. They also need to install soundproofing systems in their properties to reduce noise disturbances.
2. Incorporate Co-working Areas
Covid-19 forced most people to move out of their offices to work from home. The majority of these people have now realized the benefits of flexible working and are more likely to prefer this new way of working even after COVID-19. Property owners who want to score rental deals after the crisis need to start thinking of ways of accommodating people working from home.
One way is including co-working areas and business rooms in their properties. These rooms should be designed in ways that inspire productivity and networking. This includes ergonomic workspaces, high-speed Wi-Fi, conference rooms, and sufficient natural light.
3. Rethink Package Deliveries
Social distancing and avoiding large crowds during the pandemic has greatly influenced the way people shop. The last few months have seen an increase in online shopping. Of course, people now love the convenience of scrolling through items from the comfort of their homes. This is a comfort that will most likely influence the continuity of this trend.
In preparation to score rental deals after COVID-19, property owners should accommodate this trend. This means enlarging package holding areas to accommodate increased deliveries as well as offering home delivery services.
4. Offer Flexible Paying Options
As the virus rapidly spread across the world, many organizations were temporarily shut down and others were forced to work with minimal people on-premise. This meant that a bigger percentage had to take unpaid leave while others took salary cuts. The financial impact of the crisis has seen many people defer rent payments for several months, a situation that will see them struggle to gain back their financial freedom even after the crisis is over. If property owners are to score rental deals after the crisis, they will have to rethink payment arrangements to accommodate the financial deficiency of potential renters. Those that will offer flexible payment options will surely gain a competitive edge.
5. Guarantee Tenants’ Safety
Even after the crisis is over, people will be conscious of their health and the possibility of contracting the virus. Properties that will be able to guarantee tenants’ safety from the virus will stand a chance of scoring rental deals post COVID-19. That means regular cleaning and disinfecting of common areas, decongesting common areas such as common laundry areas and strategically placing sanitization stations in the common areas.
The COVID-19 crisis has been hard on people. It will definitely take a while before things go back to normal. While some aspects might go back to how they were before the crisis, others will take a longer time or even never go back to normal. Thus, business owners including property owners need to think of ways of accommodating these changes if they are to score with their consumers after the crisis.
We hope you found this blog post on Secret Weapon for Scoring Rental Deals After COVID-19 useful. Be sure to check out our post on 7 Things You Need to Know Before Listing Your Property for Rental for more great tips!
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