So many people predicted that the housing market would crash last year due to the pandemic. In that spirit, there are several who subscribed to the notion that the real estate and housing market would remain strong for a very long time. They hold this notion because of the record low inventory, the interest rates and demand. The pandemic which had crashed several industries like the hospitality and travel industry has been a blessing for the housing and real estate industry.
Selling your property can be overwhelming, but doing so during an epidemic might be even more daunting. Apart from experiencing safety and health concerns, you are likely to face economic distress on top of the common market conditions in such a scenario.
After reading this article on VICE, I thought we'd publish some tips on how to deal with the Covid-19 crisis and what to do if you lost your job, or need to ask for a rent discount, or are completely out of all cash.
Here's some tips, and also a recommendation for any other landlords that have some (very limited) financial flexibility like we do.