Investor Tip of the Month
Workshop for Self-Managing Landlords
On Thursday April 2nd, we hosted a virtual workshop for self-managing landlords.

Since we are all in this together we wanted to provide landlords all over Utah the tools and strategies we are implementing at this time.

Click HERE to watch the recorded workshop
Salt Lake Rental Market Update
(The rental saturation percentage is a measurement of the percent of properties that are non-owner occupied and are most likely rental properties. The census percent is simply indicating the responses given in census surveys where RentRange data is based on reports and tax records.)
Utah Sales Market Update
By: Collin Hopkins
Even through the economic turmoil, the Utah Real Estate market continued strong. Obviously, there is an impact on the market due to COVID-19, as expected, that being said it was nothing like the impact on the stock market. As the stock market went down so did interest rates. This helped keep the Utah market strong.

New Listings in the state of Utah were down 2.3% while Pending Sales increased 10.3%. Sale Prices moved higher as Median Sales Price was up 9.5 percent to $334,000. Days on Market decreased to 54.  

Supply remains small while the demand is still large. Based off the numbers, more homes are selling than are hitting the market. Some owners may fear listing their home due to uncertainty of the current market but sales and sales prices continue to rise.
Team News
Keyrenter Resident Relief Fund
The current situation has been difficult for many of us, but especially for those hard working people who have had incomes reduced and are having a hard time keeping up. Some of our residents have found themselves in this situation, and we are doing all we can to help. We decided to start a relief fund for our residents... read more
Keyrenter Training for Utah Real Estate Agents
Ryland from our team hosted a live virtual training for Utah real estate agents with special guest Frank Ivory. 

In this workshop Frank discussed how real estate agents can thrive and grow their business during this COVID-19 pandemic.

You can watch the recording HERE
Keyrenter National Client Q&A Webinar
Keyrenter is inviting all Keyrenter clients across all national offices for a National Live Webinar next Thursday, April 23rd at 2pm MDT.
Topics to be discussed are: 
  • Latest national legislation
  • Impact on rental owners and property managers
  • National rent collection statistics
  • How to best be prepared to thrive during this time
  • How Keyrenter is responding
  • Turning COVID-19 into OPPORTUNITY 2020.
Team News
Kelsey Hillier - Lease Renewals
This COVID-19 situation has been difficult for many people around the world. Property owners and residents have also been impacted in ways that for some are very challenging. Jobs have been lost, incomes reduced and some are struggling to make ends meet and pay rent. Unfortunately, some of the impacted residents have been great tenants, showing consistent timely rent payment, taking care of the property and are nice to work with. 

It is important at this time that we as a company and each of our property owners show understanding, compassion, and empathy for their situation, while at the same time still enforcing the lease, collecting as much rent as possible and working out arrangements to ensure payment in full. 

In the month of April as a company, we decided to waive all late fees in an effort to help those impacted. We have also been communicating proactively and constantly with the 7% of our residents who have not paid with compassion yet with clear expectations. 

We are optimistic about May and June, yet concerned that a greater percentage of our residents will have difficulty paying rent. To help them, we are directing them to charitable and non-profit organizations for assistance. We are even implementing our Resident Relief Fund ( more info ). 

Many owners have asked what our plan is for lease renewals this year. We want to make sure during this time that we keep great tenants. As we discussed on our Client Webinar ( view here ) for those whom we would like to renew with, we are offering new leases with no increases for this year. For tenants in a position of financial uncertainty we will be allowing their leases to go month-to-month with continual updates from them until mid to late June. From there we can better determine what the next steps should be. Due to the CARES Act , we are unable to give legal notice to vacate until after July 25th (for "covered" properties) so we will need to work with people as best we can.
What our Customers Said Last Month
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