I am in the process of refinancing one of my rental properties and need an appraiser to enter. The tenants do not want the appraiser to enter due to COVID-19 concerns. There is a multi-generational family living in the property so I do understand their concerns, but I am also in a tight window to accomplish the refinance. I use a professional management company for this property and they are making every effort to be respectful and work around the concerns, but this could cause my refinance to fall through if I can't get an appraiser inside the property in the next 2-3 weeks. Any advice?
thats tough. i had mine done last week before all that is going on. maybe offer a cleaning crew or some supplies for the trouble and make sure they are out of house.
Given the gravity of the situation (virus issues),
Maybe offer them $250 cash in $20 dollar bills, and a 2 cases of beer (to hang out in the backyard) while your appraiser is there, along with some spray Lysol disinfectant to use once they get back in.
If they turn that down, you are up against a tough wall.
@Emily Beatty it's a tough situation, but I am sure a common one right now. I would ask the appraisal company what their updated procedures are to ensure safety for all parties.
I would offer them a $100 gift card to the local supermarket to reimburse them for supplies to clean after they leave, and guarantee only one person will be entering the apartment to limit concern (assuming that's true).
You could then consider increasing value or switching to cash if necessary. Or offer a professional cleaning service with cash on the side.
Thanks for the advice everyone! I like the 100 dollar gift card for reimbursement of supplies idea and will try a few other options that may help them feel better. Going to get on the phone with the appraiser and see what they can do to be extra cautious as well (i.e. - wear gloves and mask if they have access to those things, don't touch anything on the property unnecessarily). If there's any other ideas out there I'm all ears!
@Emily Beatty Please keep us posted on how this option turns out. I find it to be reasonable and hopefully worth their time so you may move quickly with your appraiser.
@Emily Beatty so next time their toilet is clogged you dont send the plumber right? Since nobody should enter the home?
@Emily Beatty Good luck. I was going to suggest you could give them a mask and gloves for the appraiser to wear. If the appraiser puts them on when he (not sure why I assumed it was a man) gets there, it should be fine-plus they can go ahead of him and open and cupboards or doors that he needs opened minimizing the need for him to touch surfaces.
We've pulled all the stops with the tenants. They're terrified. I'm not going to push them during a time like this. Maybe it seems crazy. The full story may be that they moved to the area from Washington state about four months ago. It was hit so hard by COVID-19 in nursing homes and I understand their perspective.
Next step will be - working with the appraiser on their end to see if they can do this appraisal from recent photos taken of the unit post-renovation. Compare with the appraisal prior to renovation done in September 2019. Allow them to walk the outside of the property and see where we get. Obviously with full disclosure and permission from the bank doing the refinance.
@Anish Tolia of course a plumbing issue/emergency has different circumstances and I'll let my PM handle this convo when it arises or allow my tenants to pay for any extraneous circumstances if they don't get things addressed in a timely manner - per my lease agreement :)
These are surely strange times for landlords - and really all people. Tenants have a lot of control and we sure don't want a vacancy to ensue unnecessarily. These are good tenants who have cared and loved our property as their own & pay their rent on time.
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