May 1st, 2020
This week we have a link to the Keyrenter Resident Relief Fund, and updates on items in the news, rent collection, and leasing.

If you know someone who would benefit from this, feel free to forward it and they can subscribe using this link.
In the 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
Many Businesses Opening Up Today!
Today is the day many people here have been waiting for. Although it's not a a complete "reopening", many small businesses and restaurants are allowed to open up as they continue to abide by restrictions of distance and sanitation. Read More Here
Handling Issues Related to the CARES Act
We have only a handful of tenants who were unable to pay in April, and a few additional for May that we are aware of. Although this is good overall, if you happen to be that rental owner whose tenant didn't pay, it's not good for you. We understand this and empathize. This is an interesting situation for us because normally in a non-payment situation, there is a lot of proactive action taking place. Specific days setup to charge fees, post notices, file, etc. With the CARES Act essentially disallowing fees, notices, and filing, we are simply in a position of needing to work out situations with residents. It requires more patience, care, and consideration on all fronts. It's been a different approach than we're used to, and we thank our clients who are affected for their understanding.

The CARES Act for covered properties is still in place restricting late fees, notices, and evictions through July 25th. View Act Summary

One of the challenges we face is even if a property is not covered by the CARES Act, courts are approaching non-payment evictions as if they were, unless the non-payment began prior to mid March.
Delinquency & Leasing Updates
Rent Collection Report
It's still too early into the month of May to know what the potential delinquency rate is, but stay tuned as we release more data. We are optimistic based on the stimulus money, outreach from non-profits, and what we have learned from the residents in our portfolio.
Leasing Activity
We are seeing continued improvement in our leasing activity.
  • -15% decrease in number of tenant inquiries from the prior week.

  • -40% decrease in the number of showings the from prior week.

  • +42% increase in the number of applications from the prior week.
Have Questions or Concerns?
We're Here to Help
Whether you're a current client or not, Ryland has freed up her calendar and is available to connect with anyone looking for help or guidance during this time.