Five Challenges Property Managers Faced During Covid-19
The pandemic outbreak, many people have experienced many challenges which are directly attributed to covid-19. These problems include, among others; Loss of jobs, lost income, Loss of relationship, increased domestic violence, Deaths and ill-health fromcovid-19, etc.
- Increased Move Outs
Due to covid-19 pandemic, there was increased moving outs and less move in. Some of the reasons for this include;
Loss of jobs
Panic of a hard future hence needs to reduce spending
Relocation to rural homes
- Rent Defaults
This is another challenge we have witnessed as a property manager. A good number of people found it difficult to honour their rent payment on time due to among other things, reduced earnings, unpaid earnings, loss of job, among other reasons. As a property management company in Kisumu, we had to assist both the property owners and tenants on a case to case basis.
In some cases, property owners had to waive a fraction of the monthly rent to enable tenants who have sustained good track record of payment to keep the units in the face of this pandemic and potential reduced earnings. There are also cases where we have advised tenants on possible best move amidst the covid pandemic.
- False Expectation
This pandemic has brought some false expectations that some clients have had towards property management companies. As a property management company in this region, we faced notions like a property manager must ensure payments are made by the due date at all costs and in all situations and that it’s the mistake of a property management company whenever a tenants fail to pay rent or pays late.
As a property management company in Kisumu but also serving Vihiga, Kakamega, Bungoma, Siaya, Nandi, Kericho, Kisii, Homa Bay and Migori, we know our roles very well. Our role include; advertising a property as being let, finding tenants, screening tenants, issuing tenants with tenancy agreement, collecting rents, reporting on the property every month, supervising repairs and maintenance, handling move in and move outs and advising on tax compliance issues. We collect or ensure rent is paid on time but it’s the responsibility of the tenant to pay and on time.
- Low Units Uptake
Due to covid-19, many people were losing jobs and no transfers of employees were taking place. There was drastic reduction in number of units being taken up and it became three times difficult to fill a house which fell vacant. Many people were leading their houses due to reduced income, relocation to village homes or moving in with a friend to share rental obligation and or moving to a smaller and more affordable unit.
- Cancelled Management Contracts
This is perhaps the one challenge which hit property managers most. Cancelled management contracts mean loss of employment for property manager’s workers, reduced earnings and lost a client. Many property owners remained with fewer tenants, no new tenants moving in and perhaps more time to be involved more in property management. Some resorted to having a cheap caretaker to assume the role of a property manager.