Listing, showing and renting vacant units amidst COVID-19

General Landlording & Rental Properties
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Listing, showing and renting vacant units amidst COVID-19

Anthony Petrarca
Member since 2018 · 16 posts · 7 votes

How are you handling vacant units during this mess? I have one vacancy which I've held off on and another coming up at month's end.

Are you showing them, is it legal?

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Evan Polaski
Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
6y

@Anthony Petrarca at least in Ohio's stay-at-home orders, showing housing is still legal.  I cannot imagine anywhere it will be illegal because housing is still a basic human necessity.  

Virtual showings are much more popular these days.  The Cincinnati Board of Realtors, if not Ohio, has outlined things like having the agent stay outside, so as to help facilitate social distancing.  But generally, there are still people who need housing.  I have a vacancy coming at end of month, which I fully intend on throwing on my mask and gloves and showing people through.  I want my rent.

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  • Allison WinstonPro Member
    Indianapolis, IN · Member since 2020 · 26 posts · 11 votes
    6y

    I Noticed realtors doing virtual showings.  

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  • Evan Polaski
    Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
    6y

    @Anthony Petrarca at least in Ohio's stay-at-home orders, showing housing is still legal.  I cannot imagine anywhere it will be illegal because housing is still a basic human necessity.  

    Virtual showings are much more popular these days.  The Cincinnati Board of Realtors, if not Ohio, has outlined things like having the agent stay outside, so as to help facilitate social distancing.  But generally, there are still people who need housing.  I have a vacancy coming at end of month, which I fully intend on throwing on my mask and gloves and showing people through.  I want my rent.

    4Reply
  • Slocomb Reed
    Real Estate Agent · Cincinnati, OH · Member since 2014 · 170 posts · 102 votes
    6y

    I'm on the tail end of a 24-unit BRRRR and I have a lot of vacant units to fill, most of them already renovated. Solidly C area. I've had a rental listing up on that property very consistently for the past few months and I'm seeing a general uptick in inquiries since the shelter-in-place order went into effect on March 24th. I think there are three factors at play here:

    1) Many renters have decided to put off their move until after the pandemic has passed (they inquire, I follow up, they've decided to wait). While that's is taking people out of the prospective tenant pool...

    2) A boatload of people, primarily in their 20s, have decided that their current living situation is untenable in a quarantine situation (not to mention it just got extended for another month). My property is in a C area, the situation will be different in better and worse neighborhoods, but I'm seeing a lot of people who need to get away from a roommate/flatmate or who've decided to live with their parents while working full-time to save money, until now. This has increased demand for my renovated C-class 1-beds with relatively high rents, even factoring for the people taking themselves out of the market for now.

    3) With Ohio being a more proactive state in responding to the health crisis, frankly we haven't felt much of the impact of COVID-19 in Cincinnati (Hamilton County) yet and people aren't taking the quarantine as seriously as people in other parts of the state, much less the country.

    I'm grateful to be considered an essential business (Realtor/property management), but right now it feels like the vast majority of Cincinnatians are taking every excuse to continue with business-as-usual.

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  • Tracey Solomon
    Member since 2019 · 15 posts · 9 votes
    6y

    I have a two bedroom house with one room rented. We've put up a listing up for the second room just before the virus hit, but have avoided showing because of stay in place orders. But as @Slocomb Reed so eloquently pointed out, people need places to live and we have been flooded with requests. We're not going to do any showings (we've put up a lot of pictures so people can see what the room looks like), and we have a comprehensive application form to vet tenants. I want to be respectful of the tenant that is living there now as well as obey any laws, but the reality is that we need to rent the second room especially as the current tenant is also behind in his rent now.

    I guess my question is are there any ideas on how to rent a vacant room as opposed to a vacant property? The property is in Philadelphia. Thanks for your thoughts!

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  • Slocomb Reed
    Real Estate Agent · Cincinnati, OH · Member since 2014 · 170 posts · 102 votes
    6y

    @Tracey Solomon you may want to address the late rent situation first. If your current tenant can no longer afford the rent, it may make sense to let them move out first, then rent the whole house or both bedrooms at the same time. Or if you want to find a way to make it work with the current tenant, there are lots of ideas in the forums for assisting someone with temporary financial hardship due to coronavirus.

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  • Kenneth GarrettPro Member
    Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
    6y

    @Anthony Petrarca

    I don’t think it’s illegal to show units.  We have a Shelter in Place Order, but housing can continue, keeping in compliance with social distance.


    We’re still showing units. They are online virtually as well, but I find that people still want to see them in person. Everyone who comes to see the units must wear a mask and gloves (PPE). All lights and doors are open. No need to touch anything and they are asked no touching. We wipe down every door handle. Only one can go in at a time. A couple can go in together. No other family members allowed.

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  • Tracey Solomon
    Member since 2019 · 15 posts · 9 votes
    6y

    That's great advice @Slocomb Reed! The current tenant is not late due to coronavirus per se. He is on fixed income (social security + private pension) and we inherited him when we bought the property. At that time, we had the option of keeping him as a tenant and he assured us that between his social and his pension, he could more than afford the rent. He paid on time for the first five months but recently in the last three months he has been paying late. He's not THAT far behind, and has been paying down his back rent. He should be able to catch up completely over the next couple of months. We've encouraged him to apply for assistance programs (he was laid off from his part time gig) as well, to help close the gap. 

    I hear what you're saying about waiting to see how it plays out, but he will never move out lol - it's rough out there in Philly and no way is he going to get the deal we are giving him anywhere else. The previous owner was a real slumlord and we have made drastic improvements without changing his rent. He wants to stay and we're okay with that as long as he just gets back on track. I just don't want to be in violation of any laws if we bring someone in during shelter in place orders!

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  • Tracey Solomon
    Member since 2019 · 15 posts · 9 votes
    6y

    These are great tips! We are remote owners so we were trying not to drive down to do an in person viewing. But I think it's unavoidable. We're moving in the direction of riding out the current situation until the tenant's lease is up. 

    1Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    6y

    I'll spare you my opinion on the COVID shut-down.

    As a real estate business, I'm not showing occupied properties at all. Vacant properties are advertised with walk-through videos and we tell people in our public marketing that we're not showing them. However, if someone asks, I sign out the key and let them look on their own.

    It works well and I think we rented a dozen units in the past month. A little slower than normal but that's to be expected with a large percentage of the market is unemployed.

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  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    6y

    We have been showing units business as usual. Just wearing masks and maintaining 6' distance. This is in NJ BTW...

    [email protected]732-289-3823
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  • Tracey Solomon
    Member since 2019 · 15 posts · 9 votes
    6y

    Thanks @Peter Tverdov and @Nathan Gesner I contacted the City of Philadelphia and there is nothing on the books about not being able to rent but we can hold out a little longer and give ourselves better options without risking our tenant or ourselves.

    1Reply
  • Francis Nguyen
    Real Estate Consultant · Philadelphia, PA · Member since 2020 · 41 posts · 23 votes
    6y

    Hi @Tracey Solomon there is no current law that forbids renting out properties in Philly. With that being said, my team and I have been doing showings virtually just to be on the safe side. My acquisitions agent will show the property through a live stream and answer questions after they have walked through the entire house. We have had found success with this adjustment, as it allows our clients to have a more in depth look at the house without being at risk. 

    1Reply
  • Tracey Solomon
    Member since 2019 · 15 posts · 9 votes
    6y

    Thanks, @Francis Nguyen! I love the idea of the virtual visit and would definitely consider it. Our challenge is that the unit is not completely vacant - there is one bedroom currently occupied. I don't like the idea of bringing someone in (an agent or a prospective tenant) who could unintentionally contaminate surfaces and expose our existing tenant to a highly contagious disease. They didn't sign up for that when they agreed to rent from us. I know we are being extra careful and will have to operate at a slight loss for a few months, but as long as the current tenant keeps paying his rent, we can weather the storm for a bit longer.

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  • Patrick M.
    Rental Property Investor · Red Bank, NJ · Member since 2017 · 1k+ posts · 1k+ votes
    6y

    I have just set a record time for listing, showing and renting an apartment.

    The tenant was very cooperative and I ensured that everyone wore gloves and masks. I have never experienced so many legitimate inquiries and immediate showings- followed by a lease signing. 

    Less than a week from notice to new tenant!

    People want out of urban areas/ public transit.

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