It’s Springtime in Indianapolis.

And for those of you who know the seasonality of our market, you also know it’s selling time in Indianapolis.

The idea of selling a home during an International pandemic may seem difficult, if not impossible, to you. 

That’s a totally understandable feeling. 

In this blog, we'll discuss selling your Indianapolis rental property during the COVID-19 crisis.

It's a question we receive often and, almost as often, people are surprised by the answer.

So, is it possible to sell your Indianapolis rental property during the COVID-19 crisis?

The short answer is, “Yes.” 

You can absolutely sell your rental property during this crisis and you shouldn’t have a whole lot of trouble doing so. 

At least for now. 

Let’s drill down a little deeper...

For Indianapolis real estate Investors, there are many factors to consider when analyzing a deal. 

A factor you may or may not have considered, is if a property is being sold as-is. 

At some point, those two little words may have raised a red flag in your brain to run the other way, and understandably so. 

If you're not super familiar with real estate investing, that can certainly seem like a risky move. 

But I'm here to share some insight into these types of deals and hopefully put some of that concern to rest. 

Here are the 3 biggest misconceptions about buying a property "as-is" that many buyers seem to have.

The coronavirus, as you might expect, has required our Property Management Company to  change many of our processes. 

And while we do our best to inform our Clients about the various changes in our procedures, there’s one overriding concern that most Clients have: 

“How are you collecting rent during the COVID-19 crisis?”

For this week’s blog, we’ll discuss our collection processes during this challenging time. 

Disclaimer: Due to numerous federal and state regulations, this is a very fluid topic. We’ll do our best to keep this blog updated with current information.

As we wrap up the first quarter of 2020, the rental stats are certainly not the star of this show. 

This quarter brought with it a worldwide pandemic that turned everything upside down, and, I'm sure has left many of you with questions and concerns about the market.

The current social distancing measures put into place have changed the game for our industry, but we're finding ways to adapt. 

When it comes down to it, people need a place to live and so our essential business will find ways to navigate these uncharted waters.  

Let's take a look at the numbers and see how the Covid-19 crisis has affected our rental market this quarter.

Last week, we discussed leasing your home during the COVID-19 crisis. 

This week, let’s switch gears and discuss an equally important component of successful property management: renewing the Lease. 

Keeping a Tenant in place, especially in this unstable environment, is a very good thing. We’ve always taught that vacancy is a cashflow killer.

Below are a few basic points to consider when renewing a lease during the COVID-19 crisis. In a lot of ways, we will continue to operate in the same manner, but there is one big change along with some trends that you need to understand:

Every Monday, we meet and discuss, among other things, the previous week’s rental marketing activity. 

We discuss our showing levels.

Number of applications we processed.

Leases we signed.

And a host of other stuff.

All these Key Performance Indicators (KPIs) give us a good sense of the health of the rental market in Central Indiana. 

Admittedly, this past Monday, I wasn’t excited about reviewing the previous week’s numbers. Given all the turmoil in the world right now, I was convinced we would see a sharp downturn in our numbers.

And… I was totally wrong.

Showings? Up.

Applications? Very strong.

Leases Signed? Right in line. 

Hmmmm…….

Now, clearly, we took a big turn last week here in Indianapolis, as our Governor announced a “stay at home” scenario that will last until April 6th. 

So, we’ll see if showing levels continue to stay strong.

But, how do we explain why showing numbers and general rental activity continue to show strength?