To pay rent, or not? Top 5 ways to handle Tenant-landlord conflict during coronavirus outbreak

The worst time for all of us. Mainly to the renters out there who are struggling to bring food on their plate amidst the pandemic.

If you are a renter and you still think you can pay the rent and the income is normal as ever, you should pay the rent. But these unprecedented situations have affected the relationships too. Be it internal or social. Because the problem here is money! It will just get ugly and ugly if the conflict keeps on happening.

The best suggestion would be to take advice from a Property Management Company over the issue you are facing if you are a Landlord. Since landlords play the most part, it will be great if they get to know what is actually happening around them and what the Professional Consultants suggest.

What do you think, To pay rent or not?

If you are subjected to pay rent, then you should. You can request your landlord for a concession or reduction in the rent amount or wavering it until the situation gets back to normal.

But, it’s completely the decision of the landlord and you can’t do anything about it. And still, the landlords are surprisingly supportive for many renters, however, there is an exception.  Certain landlords can’t just be cool about it, there will be the problem of liquidity. So, if you could, please just pay the rent off. The landlords are equally damaged in a situation like this.

Having a Property Management Company or Consultancy can be very helpful in this situation. You can stay rest assured and they will take care of it.

To be on point, this pandemic situation is beyond anyone’s control, and the lockdown rules and the orders just add the pain. Facing reality, this is the time the banks have given us extra time to pay off the debts but the interest they impose on you is the ultimate use of the untimely pandemic.

Don’t you think this calls for someone who’s actually better at managing the property and can give us guidance? To put it straight, the Property Management Consultants are a straight away rescuer for you from all your property-related issues.

So, the bottom line is, if you could just afford to pay the rent, please pay them off! It later will add a burden to you!

Here are the things that a Landlord can do to ease the pain of a renter,

• Reduction in the rent.
• Wavering off the rents for a while
• Be there for each other
• Make sure to help a renter and don’t evict one because of the situation that is caused by the pandemic
• Relax the lease

I’m again stressing it out, while the landlords take risks to do all of these things for you, the renter, you should help them out too. You can pay the rent in divided amounts or be supportive otherwise. We can tell you some ways to handle landlord-tenant conflict during the Coronavirus outbreak.

However, the government and the other media houses are concentrating on the problems faced by the tenants and the landlord’s problems are just pushed aside.

Truth be told, the landlords are not just taken into consideration. So landlords are left with no option than to get adjusted to the situation whatever it is.

The tenant is also not at fault, after all.

A Property Management Company in Bangalore could deal with this problem, if and only if, the property of the landlord is under their maintenance. So, if you don’t have one, then it’s the right time to approach them.

The tenants will have a problem in the flow of the cash and rent becomes harder to pay so you may just have a word with the tenant as a landlord so that you can sort it out and not have a conflict. Unpopular opinion, you can make use of the property Management Applications designed by the Property Management Companies to help you.

Top 5 ways to handle landlord Tenant conflict during Coronavirus outbreak

Landlords who will be able to afford a total or partial wavering of rent may want to consider offering such steps since you can modify some things from the existing lease agreement.

Some modifications to handle the conflict between the landlord and the tenant may include,

1. Extension of the terms
2. Loosening some agreements from the lease
3. Reduction in the rent
4. Bring in a Property Management Company
5. Be a good negotiator

Let’s see how these modifications work and refrain problems from happening between the landlord and the tenant.

1.Extension of the terms

The best and the easiest way to contain the conflict from happening is that you can just extend the terms in the rental agreement. This could be a little difficult. But you have no other go. You must go past this situation without getting crushed. A Property Management Consultant will tell you how to do it without losing control over your property.

2. Loosening some agreements from the lease

You can go on to free some agreements from the lease since everyone is facing a difficult time.

3. Reduction in the rent

How about reducing some amount from the rent and just get off with the situation? Because the ultimate problem of a renter is to find funds for the rent during this pandemic. So if you could just consider it and reduce some, half of the problems would be gone. You may get a piece of productive advice on this issue from a Property Management Consultant about the percentage of the rent you can reduce. The Property Management Consultant being a professional can help you check the background of the tenant and suggest to you the percentage of waiver you can push on rent.

4. Bring in a Property Management Company

This is the best time to bring in a Property Management Company so that they can take charge of the properties. When they take charge of your properties, all the decisions and regulations regarding the property will reach the renter through the Property Management Company, themselves and it’s by far the best method to escape from the conflict with your tenant.

5. Be a good negotiator

If your tenant wants to start the negotiation about the rent, be considerate. You should be a good negotiator also the condition outside is worse, you can’t evict your tenant as well. So, try to get the best deal. Or leave it to the Property Management Consultant, your work here is done!

CLOSING POINTS:


These are some of the most effective ways to handle the landlord and tenant problems during this lockdown. Make sure to apply all of these. At least one or two of this so that you don’t have to involve yourself in a conflict. The best way is to make way for a Property Management Company to do its job. We hope you find this blog helpful.

How Does OwnersTown Property Management Application Work?

Property Management Applications have become an absolutely necessary part of Property Management Companies to make working with them easier. The role of the property management app is to help owners and property managers with managing the properties. The property management application must be designed to have strong organization skills. In short, the applications must be able to help landlords and property managers in managing, selling, and leasing the property or leaving the property for rents. On the other hand, the property management application will allow the renter to check for the properties that are appropriate for their needs and rent down the respective property.

What is the purpose of the Property Management Application?

If you have to install a Property Management Application, you obviously have to know its purpose at least as an audience. Why do you need a Property Management app? A Property Management Application is said to have the following functions that make it absolutely essential for you to install,

• Evaluate property expenses and income
• Advertise your rental properties online
• Manage rents
• Abide by the landlord-tenant & real estate laws
• Mainly, maintenance of the property
• If these factors didn’t help you employ a rental management application, what else will?

What are the works that a Property Management Application is in charge of?

The main idea of Property Management applications is to lessen the burden of the property managers and landlords. Now, in this case, everyone with the application will expect automation in the functions or the Property Management Application will pose no use!

The works that could be taken care of by the application are,

• Collecting & Managing rent
• Checking for the repair requests and timely maintenance
• Exposure to the Landlord-tenant law
• Keeping the responsibilities in check
• File taxes
• Monetary Management
• Managing the tenants

How to manage the stress of Property Management?

As a property manager, you will have to face a unique kind of stressing out.  You will have to face both the Property Management Company and also the property owners. That makes your position especially difficult.  To reduce your stress, the property management companies are introducing property management applications now, one such application is the Ownerstown Property Management Application.

You must know where you are hanging over your properties. Ownerstown Property Management Company will always provide exclusive services to its clientele. Employing their Property Management application will expose you to the benefits the company provides.

Here, we’ll see the features, overview of the ownerstown property management application, services provided!

Application Review – OwnersTown Property Management Application:

The OwnersTown Property Management Application poses to provide a one-stop solution for property management. You know how stressful property management could get, so to reduce your stress and simplify the work, the ownerstown property management company designed this Property Management Application that suits everyone. The Ownerstown application will not only look after your properties but also do everything to take your property online and provide a path to sell them.

The application helps in providing all types of services that are required for the properties and guide you in accordance with the law. The ownerstown property management application lets you register your property with them at ease. You will be expected to provide the basic details of a property like the age, location, the rental, area of the property.

Once you enter all the details, your properties will become visible to the users. You are now a registered member of the Ownerstown Property Management Company.

Features of the Ownserstown Property Management Application:

Some of the notable features of the Ownserstown Property Management Application would be,

1. Managing the accounts
2. Manage Documents
3. Manage Tenants
4. Update and complete tasks
5. Provides Performance Reports
6. Managing the vendors
7. Provides a Secured dashboard (for Property Owner, Property Manager, Tenants)
8. Reminders for rents & maintenance

1.Managing the Accounts

Managing your account with the ownerstown property management application will be a breeze to work with. A structured and easy interface allows you to manage all your transactions in a single place. The Property Management Application allows you to record, manage, and share property-related transactions online without having to do any paperwork. That’s how simple it is.

The Ownerstown property management application provides encrypted transactions and helps generate invoices in a jiff.

2. Manages Documents

The ownerstown Property Management Application helps you in managing all the property-related documents of the tenant and the owner. It’s a place where you can store and find all your documents. Also, if there comes any need to download the document, feel free to download it from the ownerstown portal. You can just drag, drop, and share your documents with anyone you would like to share.

3. Manage Tenants

Ownerstown helps in managing your tenant cycle. They will help you right from marketing your property to renting it out. Thus, this rental management application keeps your property alive.

4. Update and complete tasks

Create and assign tasks for your property from financial to maintenance, from rental to vendors. Having a streamlined task process allows you to have complete knowledge of all the work which is pending, on hold, and completed making property management easier like never before.

5.Provides Performance Reports

After running with the application for a while, you need to know how far you have made it. So, performance reports are absolutely necessary to evaluate. Performance reports provide an in-depth report of all your rental, lease, and maintenance allowing you to have a better understanding of your property and provides a game plan for what needs to be done next.

6. Managing the vendors

Just in case, if your tenant happens to experience any problem with the property, they will be allowed to raise a request. For, ex: it could be for plumbing issues, electric issues, civil, etc., That’s why this ownerstown property management application understands the problem of the tenants and collaborated with genuine and verified vendors for timely assistance.

7. Provides a Secured Dashboard

Ownerstown provides you a secured dashboard where you can see the health of the property. Having an overview of every detail at a glimpse allows you to make decisions faster and with precision. Be it transactions or managing your property, everything is completely encrypted.

OwnersTown provides dashboards for the Property owners, managers, and tenants.

8. Reminders for rents & maintenance

The application sets reminders for timely scheduled maintenance and collecting rents. Also, an automated invoicing feature has been integrated into the platform allowing rent invoices to be sent automatically within the scheduled time.

Notifications either through the application or email

Any problem with the property or any kind of updates, you will be notified with a message through the application or through email.

How Does The World See Property Investments After Lockdown

As an investor, you must be very careful in Property Investments. Experts say there could be a 20% crash in real estate investments. The prices are likely to fall. For potential buyers and buyers who have cash security no longer have to worry about property Investments. It’s their time to buy a property. Even negotiation to a greater extent is possible.

However, the global economic condition and the pandemic situation together created uncertainty in the field of Real Estate and can negatively impact the Real Estate Industry this year. There are job losses happening around the country so it’s better to stay cautious in Property Investments.

Property Management Company should be approached before making any decision regarding the investments in the property to understand the in and outs of the property investment sector during this pandemic. If you approach a Property Management Consultant, he will observe the situation for you and on the property, you are willing to invest. This will help you make a clear decision, TO BUY or NOT. 

Property Investments After Lockdown

Irrespective of the current situation, the property investors see there must be a significant change in the prices of the properties. It could be either high or less. No one can really foresee what it is really going to be like as it is already uncertain.

In a survey, they say nearly 40 % of the total potential property investors, who were searching properties for purchase before lockdown, have postponed their plan while almost 60 percent of property investors are still stubborn to invest in a property within a year.

Also, the buyers seem to show more interest in the properties that are ready to move in than an under-construction project. The investors feel that they are way safer than the projects that are under construction.

In case of so much confusion, any investor who is willing to do Property Investments post lockdown can approach a Property Management Company even now to know the exact situation in the investing area. Why do we bring a property management company because come on, who else is closely watching the current real estate situations than property Management Companies?

Just like panic attacks, there could be panic price downfall post lockdown but however, it is gradually going to increase after the situation turns normal. Once COVID-19 is contained and the situation is returning back, we can say that the prices may go up gradually or skyrocket. We can not easily graph it since it’s still evolving.

But as already said, the fully completed and ready to move in projects may move quicker than the projects that are under construction. To make sure that the sentiment of the buyer remains positive, there will be a need for a little more positive approach to lifting the selling numbers in the market.

A property Investor can always approach a Property Management Consultant for guidance. They know where to invest and at what time. Since the lockdown is extended until the 17th of May, losses seem to increase. You still need to know that real estate and property investments are not going to crash, it just takes some time to overcome the loss, right after the lockdown, Property Investments may gradually pick up.

What You Must Consider About Property Investments Post Lockdown?  

1. Supply & Labour Issues
2. Demand Issues

These are two types of issues we need to combat and look for before investing in a property post lockdown. Let’s see how it takes a toll on property investments!

1.  Supply & Labour Issues

Supply issues for Construction Materials are there even during this pandemic lockdown. So after lifting the lockdown, the supply of the goods will be there but not to a greater extent. There could be slash in the prices of the building materials but you cannot compromise the cost of the project. It is going to remain the same. Also, there is a labour shortage, you cannot just call the workers back from their hometowns without work. Some companies have given both food and shelter to their workers stranded in the sites.  This pandemic lockdown has created a huge burden on these labourers. Several daily wagers are stranded in distant states and are not able to return home. Real estate experts foresee a situation where once the lockdown is lifted the labourers will be rushing home escalating a shortage of labour. This will drag projects and take a lot more time to complete them. 

2. Demand Issues

These industries will witness high unemployment initially, but it will gradually be back to how it was before. There are going to be so many employment opportunities for daily wagers in the construction industry, as we foresee the labourers from distant places may rush back to their hometowns causing a need for alternate labourers. It will also take a toll on the economy, and promote the unemployment of the youngsters. We cannot even imagine the situation of how so many students who must have been graduates will have to stay on for another year of study!

The impact on prices of the property will be intensified gradually. Investors will have to face increasing arrears in returns, lower yields, and decreased buyers if you are trying to sell the property.

So it is always said that it is cheaper to invest than to rent and that that will be understood when the prices start to spike.

These issues can be handled easily if you hire a Property Management Company or a Property Management Consultant in Bangalore.

But, we also need to understand the fact that some of the property developers are not even interested in cutting prices despite the loss.

Another factor you must keep in mind is that the extended lockdown may result in the value of a property to fall, which in turn might result in increased competition for the property. When it comes to the lower prices, it will fall into the price range of more buyers, and this may delay or completely make you lose the chances of buying the property. This will lead to increased affordability for almost all the people since the price range is falling.

SUMMARY:

These are the things that you should know before investing in a property after lockdown or simply approach ownerstown property management company in Bangalore, they are the best in the business. A property management company will reduce almost all the confusion that you are carrying on your shoulders.

We hope you find this article helpful. Contact us for more details.