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Coronavirus and Rental Properties - what you should know and consider
Dated: March 13 2020
Dear Homeowner ~
I am writing to offer my help. I was just listening to our local, regional and national public health directors talk about COVID-19 (coronavirus) and the impact it will be having on our society. This was a fantastic presentation of the science, public response and preventative measures you can take that I highly recommend you watch youtu.be/HAc1V6K7it0
You are certainly also reading about the virus in the news with the NBA, NHL and others canceling all remaining games, public universities sending students home for the rest of the year, cruise lines canceling all travel, airline restrictions being imposed, local public schools closing through the end of March and all "non-essential travel" being openly discouraged.
Whether you think this is a serious threat to public health and safety or all just hype, I think we all can agree there will be an impact on our economy.
Here is where I am offering our help... renting your property falls in the "non-essential travel" category for most renters. I am going to ask you some hard questions right now, so brace yourself.
You might be in a situation where you depend upon short-term rental income to pay for your investment property mortgage. You may depend on that rental income to pay your own primary mortgage. If either of these is true, seriously ask yourself, how long can I pay that investment property mortgage if rental income is cut by 50%? by 70%? How many days of vacancy can you survive for how many months in a row and stay afloat? in the black? before you get in to financial trouble? How much more is it costing to santize your rental after every visitor? Are you comfortable having visitors in your home with unknown travel histories? These are serious questions that require serious reflection and contemplation.
We are entering the traditionally "hot" Spring home-selling market. Coronavirus or not, people will still be moving because they just got married, pregnant or transferred at work. Others will be jockeying for a new school district for their children. Perhaps they are being adversely impacted by the local and national forces at work and are having to down-size. Whatever the case, people will still be buying houses.
I offer to you that right now might be the perfect time to liquidate your rental property. With nearly two decades of experience selling homes in the area, our office will provide professional photos and video as well as create an online 3D model of your property that people can tour virtually. We do so much more, so a brief overview of our listing process can be viewed in 10 minutes via this link https://youtu.be/gRLskeApQW0 All documents can be signed electronically in case the seller or buyer ends up in quarantine or self-imposed isolation.
Merely reply to this message with a request for a free, professional valuation of your rental unit. If you have made any upgrades or improvements since you purchased it, please share that with us.
Whether you wish to sell or not, I pray that you and your family remain safe and healthy. Please follow the preventive measures outlined in the first video link at the start of this message.
I remain available to help and serve you and can be reached via text or call to 303-589-2320 or email to email@example.com
~ Rick Janson, JD/MBA
Rick Janson left his career as an attorney in Denver, CO to go full-time with real estate in 2002. With an MBA in marketing, a semi-professional photography hobby and an entrepreneurial spirit, Rick l....
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Dear Homeowner ~I am writing to offer my help. I was just listening to our local, regional and national public health directors talk about COVID-19 (coronavirus) and the impact it will be having on