How to deal with a drop in rental revenue (COVID-19)

The current 6-month moratorium on evictions is putting a lot of pressure on landlords and has left a lot of property investors wondering, who is going to foot the bill, if a tenant cannot pay their rent for up to 6 months?

If you have good tenants, it is really important to do everything you can to try and keep them.

If you are looking at a drop in your rental income, here are some tips from RealRenta, to help you out and put things into perspective:

•The market determines the price, so research the market properly before entering into any negotiations with tenants about price.

•Sometimes lowering your rent is a smart move. You will be worse off if your property is empty so, less rent is better than zero rent.

•The market always goes up and down and in circles. Hold on to your property, the market will surely go up again.

•Don’t overprice your property in this type of market, it could mean longer periods of the property being vacant and no income for you.

•Investing in property is a long term game. Remember that the underlying strategy for property investing is capital growth over time.

Use RealRenta to manage your property- there is no need to pay expensive middlemen anymore.

With RealRenta, you will get your rental revenue paid directly to your bank account.

Become a RealRenta Landlord now and save up to 25% off the normal subscription costs: https://app.realrenta.com/Signup.aspx

Jason Gwerder
Monday, 13 April 2020

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