This week’s roundup offers continuing coverage on the coronavirus (COVID-19), including how to reduce property exposure, tips for addressing concerns with residents, and how tech is playing a role for property managers and owners. First, NREI provides insights on what steps property owners should take if there are confirmed COVID-19 exposures at their buildings. Next, NMHC provides tools that multifamily owners can use to discuss sensitive issues with their residents, such as rent payments and the federal resources that are available to them during this time. Arbor’s Chatter blog examines how COVID-19 is affecting the apartment market in California, which has been hit hard by the outbreak. Then, Multi-Housing News discusses how technology is helping real estate agents, brokers and other industry players stay in business and modify their strategies to comply with social distancing measures. Finally, RealPage takes a look at how multifamily construction activity has performed in recent months, noting that February permit and construction start numbers were down after reaching historically high levels in the previous few months.
Mitigating COVID-19 Exposure at Your Property: Conversation with a CIH
NREI – April 2
“The time to develop a measured response to this situation is now. Once you’ve taken steps to inform and protect your occupants, what can you do to mitigate the situation and get your property ready for re-occupancy?”
Tools for Communicating with Residents Regarding Rent Flexibility, Federal Assistance
NMHC – March 31
“We are sensitive to the fact that residents hearing about eviction moratoriums on the news may mistakenly believe that they do not have to pay their rent even if they have not been financially impacted by the pandemic.”
COVID-19 Effects on California’s Multifamily Market
Arbor Chatter – April 2
“Moody’s Analytics reviewed Covid-19 effects on California’s multifamily market, showing in many ways commercial real estate remains a local business.”
Leaning on Tech Amid Coronavirus Turbulence
Multi-Housing News – March 31
“For agents, brokers and property managers, it is essential to find ways to keep their businesses alive during these troubled times, and technology is stepping in to help them continue their activity.”
Multifamily Permits, Starts Decrease in February Ahead of COVID-19
RealPage – March 30
“That number was down 20.2% from January and 5% from February 2019. Decreased permitting in February perhaps isn’t surprising, given the historically high levels seen in recent months.”
