April 24th, 2020
This week we have a link to the most recent webinar, 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
National Client Webinar - COVID-19 Discussion
This is a recording of the webinar exclusive for Keyrenter clients, on a national level. We discussed the impact of national COVID-19 legislation on rental owners, property managers. Some restrictions and benefits for owners under the CARES Act, as well as how Keyrenter is continuing to operate and protect owner's interests. This aired live on April 23rd, 2020 at 2 pm MDT.
Stay Home, Stay Safe Modified
We can start to see the light at the end of the tunnel as Salt Lake County mayor, Jenny Wilson announced last Friday that the stay-home portion of the  county’s health order  was being rescinded starting at 5 p.m. However, social distancing and restrictions on group and social gatherings are still in place. Read More Here

We have already seen an increase in showings in the rental and sales markets due to this.
Other Acts & Orders Currently in Place
The CARES Act for covered properties is still in place restricting late fees, notices, and evictions. View Act Summary

Is your property "Covered"? A covered property means it has a federally backed mortgage and is both restricted by the CARES Act and also eligible for mortgage forbearance. Check using the Fannie/Freddie lookups:
Delinquency & Leasing Updates
Rent Collection Report
As of today, 95% of our residents have paid their rent. Usually by this time 99% of our tenants have paid. Nationawide, our offices are reporting a delinquency increase of 2.43% over the prior month.

We're encouraged that we're still on  the  right track here. As always, we'll be  in  touch with any clients come May if delinquencies are an issue. 
Leasing Activity
We are seeing continued improvement in our leasing activity.
  • -1% decrease in number of tenant inquiries from the prior week, which is up 40% from first week in April.

  • +17% in the number of showings the from prior week, which is up 64% from the first week in April.

  • +44% in the number of applications from the prior week, which is up 78% from the first week in April.
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.