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 Property Management
The Year 2020 - A Real “Sh*t” Show
By Kari Negri, Founder and CEO, SKY Properties ● PREDICTION = Guessing nothing more than a
guess of what MIGHT happen... ●BFACT = Something we can work with to make
The new question before us now is what is going to happen in 2021 and I love that people have the audacity to try and tell us what the “new normal” is going to be. The only answer is that WE HAVE NO IDEA!! That is the truth. There is absolutely no way to predict where the rental housing industry, or the California economy for that matter, is going to end up. Day by day we will get through this. This is a phrase I am totally sick of but we will get through this and there will likely be many other versions of “new normal.”
There are some things we can do to steer our new normal. I would start with trying to renew every good tenant you have by offering them upgrades for their unit. New paint, new countertops, new stovetops, or any item that would bring value to your rental property and to your tenant. You certainly will want to provide upgrades to a good tenant that you would give to a new tenant. This right now is a tenant’s market and what I am saying here is a FACT, not a prediction, and for the purposes of this
article, we do need to stick with facts when making
good decisions...
ack in March 2020, I must have been asked about 1,000 times, ASK KARI what is going to happen? Will my tenants pay rent? Will I need to stop my mortgage payments or request my bank for a forbearance? Should I
give my tenants a discount or other rent concession? All of these are important questions, of course, but while I am a lot of things, a fortune teller I am not! I certainly could have never PREDICTED that our dear Governor Newsom would make Actors “essential workers” and exempt them from the curfew while restaurant workers and workers at nail salons, hair salons and other businesses are subject to stay- at-home orders. FACT = Governor Newson has continually made a lot of really bad decisions, so we should not be surprised.
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