In the midst of the economic uncertainty prompted by the COVID-19 pandemic, many tenants have experienced reduced employment, furlough, and job loss. While the government has quickly enacted a series of stimulus bills and small business loans designed to keep Americans afloat, Las Vegas property managers must face the very real possibility that some tenants may not be able to submit rental payments in the upcoming months. Of course, you’ll want to remain compassionate, but you also need to cover your own expenses. Since many real estate investors depend on rental income to complete mortgage payments, this presents a troubling problem – how can you collect rent during COVID-19? If you don’t currently have a rent guarantee agreement, consider these tips:
COVID-19 has put rental property management in Las Vegas into a bit of a tailspin. However, even in light of these difficulties, collecting rent doesn’t need to be a headache. Using Home365 allows you to collect rent virtually and quickly fills any vacancies, providing you with a consistent flow of the funds you need to stay solvent. Reach out today for more information.