COVID-19

Updates and resources for our valued clients and employees

By: Team LWSDate: May 8, 2020

LWS Rental Market Update No. 8: Rent Collections Indicate Stability for Class A and B Properties

There has been great uncertainty for property owners and landlords as they brace themselves each month for rent collections during COVID-19. Last month we shared some early indicators and advice for landlords as they waded through the first month of rent collections. So, how did properties manage their April collections? Have we seen the full effects of the pandemic on rent revenues?

First, we'll address the data. What are property owners and firms reporting? Then we'll unpack why certain properties are reporting specific numbers. And finally, what are some recommendations for properties to take a more defensive approach right now? 

Let's dive in...


By: Team LWSDate: May 1, 2020

LWS Rental Market Update No. 7: Future-Proofing Your Properties for COVID-19 and Beyond

As property management firms adapt to the ongoing COVID-19 pandemic, questions linger around its long-term effects on the rental housing industry. Although it's been a challenging time for all, this situation has presented an opportunity for integrating new innovations and improving operations. 

We'll use this time to make some observations around the lasting impact of COVID-19 on the rental housing market, and how property owners, operators, and marketers can leverage this time for future-proofing their businesses.


By: Team LWSDate: Apr 24, 2020

LWS Rental Market Update No. 6: RentBoard Survey Uncovers the Top Trends Impacting Renters During COVID-19

One of Rentsync's valued ILS partners, RentBoard.ca, recently conducted a survey that provides new insights around major topics impacting renters and property searches throughout the COVID-19 pandemic. In this report, we will outline the results from the survey and make recommendations based upon the feedback provided.


By: Team LWSDate: Apr 17, 2020

LWS Rental Market Update No. 5 (COVID-19): Lead Volume Rebounds Across Canadian Provinces

On March 19th we issued our first COVID-19 announcement upon initial reports of the novel coronavirus entering North America. At that time we revealed that lead volume was holding steady in the rental housing industry despite initial concerns. As "social distancing" escalated and non-essential business closures ensued, renters delayed their search, with the mindset that quarantine would only last a couple weeks. In addition, the banning of short-term rentals has caused an oversupply in the market, thus impacting lead volume

However, within weeks, more clarity and support on the situation is helping to revive confidence in the rental housing market. The federal government issued the Emergency Response Benefit to support financially vulnerable Canadians, the number of COVID-19 cases in certain provinces has slowed, while renters and property owners are adapting to accommodate the situation (i.e. virtual touring), resulting in lead volume to slowly but steadily rebound. 


By: Team LWSDate: Apr 9, 2020

LWS Rental Market Update No. 4 (COVID-19): Virtual Tours on the Rise, LWS Releases Update for Ad Syndication

Since the COVID-19 outbreak, "social distancing" has caused in-person tours to scale back. As a result, the rental housing industry must provide a workaround to show properties to potential tenants.

In addition to providing you with rental market data over the last few weeks, our team has also been working behind-the-scenes to provide you with a solution to this ever-pressing issue. Today we are pleased to announce our new virtual tour ad syndication feature. This feature allows users who have video or Matterport 3D tours in our system to now push them to their ads (via Rentsync).


By: Team LWSDate: Apr 3, 2020

LWS Rental Market Update No. 3 (COVID-19): Handling Oversupply and Rent Collection

For anyone in the rental housing industry, April 1, 2020 was an unprecedented day in rent collections for many owners and operators.

While at the same time, oversupply from Airbnbs flooding the market has caused issues with lead volume on the demand side of the industry.

In this article we uncover how the rental housing industry can take on an oversupply created by vacant Airbnbs, and share the latest insights and best practices for rent collections during this time.


By: Team LWSDate: Mar 26, 2020

LWS Rental Market Update No. 2 (COVID-19): Apartments Show Resilience Amid Crisis

Since our last update a lot has happened, including news that property management firms were officially deemed an essential industry by the Ontario government. This means they can remain open for business throughout the COVID-19 crisis.

In most cases, our data and research indicates that apartment demand hasn't disappeared; it now could just be a question of what multifamily asset class will perform the best and how to fulfill the demand – safely, given the situation.

On the supply side, our initial research indicates a possible shift within the short-term rental inventory, including Airbnbs joining the long-term rental market, which could flood and unbalance the market in favour of renters.


By: Team LWSDate: Mar 19, 2020

LWS Rental Market Update No. 1 (COVID-19): Rental Demand Appears to Hold Steady

On behalf of everyone at Landlord Web Solutions (LWS), we want to reach out again with the hope that you and your loved ones are safe and healthy. We are a data-driven company, and right now, the data shows that it is crucial to flatten the curve of the COVID‑19 pandemic. 

We also have an obligation to use our data and expertise to help our multifamily clients weather the storm, so, during this time, we'll be publishing content to help you navigate your way through these unchartered territories.

That brings us to our first order of business. We'd like to share a few early indicators and tips to help you make the best marketing and advertising decisions for your property portfolio throughout this time.


By: Team LWSDate: Mar 17, 2020

Business Continuity Plan for Landlord Web Solutions (COVID-19)

We want to let you know that we are actively monitoring the COVID-19 situation closely, and are taking every proactive precaution possible.

We are all experiencing the news on multiple levels – but are working to maintain business continuity while providing a safe environment for our employees.

We realize this health situation has been disruptive to many businesses across the globe and would like to share some updates about what we're doing to support both our customers and employees. 


Industry News


Information

By: Team LWSDate: Mar 17, 2020

Information About COVID-19

COVID-19 is a new strain of Coronavirus, from a large family of viruses that cause illness, ranging from the common cold to more severe respiratory diseases. This particular strain has been proven to transmit from human to human and animal to human. 

Symptoms of COVID-19 can include: fever, fatigue, dry cough, shortness of breath and breathing difficulties. In severe cases, it can cause pneumonia, severe acute respiratory syndrome & kidney failure. However, it does not exclude: aches & pains, nasal congestion, sore throat and diarrhea. 

If you are experiencing symptoms related to COVID-19, before you enter a doctor's office or emergency room, take this self-assessment provided by the province of Ontario. Call ahead before you enter any health facility. 
 

What can we do to mitigate mass spread? 

Practice excellent basic hygiene like hand washing for at least 20 seconds with soap, cover your mouth when coughing or sneezing and stay home when sick. More recently, social distancing measures have been put into place. These include: working from home when possible, avoiding large gatherings, events & public places and avoiding contact with people in the high-risk category (60+ years old; those with pre-existing health conditions). 

(All above information provided by the World Health Organization website)

[UPDATE: If you're looking to become more informed about COVID-19 we'd recommend reading the article called Coronavirus: The Hammer and the Dance written by Tomás Pueyo]