We have a serious situation now throughout the country and all over the world with the spread of the coronavirus, or COVID-19.There’s a lot of uncertainty.If you’re a rental property owner in Dallas, there’s a lot you need to think about in terms of information and accessing government resources. We’re talking today about what you should do and how you can help yourself, your investment property, and your residents.
Remain Calm and Professional
First, don’t panic. There’s a lot of panic going on throughout the country and across the globe, and while that panic is understandable, it’s not going to help you solve any problems or make any preparations. So, remember that you’re running a business, and even if you’re nervous and worried, you have to think rationally and respond only to what you can control. Leave the things you cannot control to other people.
Focus on Local Sources and Resources
One of the things that’s especially alarming as this emergency situation grows worse is the amount of wrong information that’s out there. The information Americans are required to consume every day can be overwhelming, especially when not all of it is factual.
Don’t get drawn into sensationalized stories that don’t actually have a lot of meaning to the current situation.
Focus on the sources and the resources you can trust. The Centers for Disease Control is a great place to start, and you can check their website for the latest information and for local resources that might be of value to you.
Make sure you know how to reach your city and county health departments and government agencies as well. Local municipalities may be your best shot at getting good information and direction. During such a confusing time, many states, counties, and cities are following their own procedures and issuing their own recommendations and requirements. If you’re in North Dallas and thinking about your Dallas rental property, you don’t have to spend a lot of time focusing on what’s going on in New York or Chicago.
Pay attention to your local news, needs, and resources.
Find Your Local Hospitals and Health Centers
One thing that everybody needs to come to terms with is the fact that we don’t really know what’s going to happen with this virus or to our economy. People are great at making predictions, but we don’t actually know if we’re at the beginning, middle, or end of the pandemic’s worst days. This could all be gone in a month or we could be further into the pandemic in a month. We don’t know.
Pay attention to what your local authorities are telling you. Make sure you know how to reach and where to find your local fire department and police station. Know where your local hospital or urgent care center is. We recommend you put a pin in those locations when you Google the information on your phone. If you need a test or you start to feel sick, you’ll want to know where to go for immediate testing and treatment.
This is a fluid situation, but it’s a good idea to act and plan based on the information you have.
Choose the Information You Consume
In Texas, it’s just been announced that restaurants and bars are closing. This means that small businesses have to be creative in how they serve the needs of their customers. While restaurants may be closed for in-person dining, they are still providing take-out and a lot of places are even delivering. Grocery stores are restricting their hours in the morning so senior citizens can shop safely and with less risk of contracting the virus.
Pay attention to what’s going on in your state, your city, and even your neighborhood. You have to know what you’re doing, and you have to keep up with any changes or requirements.
The news is usually a good source of information, but realize that not everything you hear can be trusted. Be careful about what you’re listening to and who you’re lending credibility to. Make sure you’re getting factual information. You don’t want to hear anyone reporting based on opinions or emotion or panic. It can drive you to make decisions that might not be in your best interests.
Be especially careful of social media. Most of us love checking our Facebook feeds and our Instagram and Twitter posts, but on social media, you’re not always getting the best information. It’s become more of a gossip mill, especially since this coronavirus really took hold.
Follow information that comes directly from a reliable and credible source. Don’t look at social media all day long. It will make you anxious and possibly contribute to the spread of disinformation.
Dallas is Region 6 for the Federal Government
One thing you should know as a Dallas rental property owner is that Dallas is under the Region 6 jurisdiction for the federal government. So when you’re looking up information from the local or you are visiting health.gov or any of the federal websites, Dallas and most of north Texas falls under Region 6.
You’ll get a lot of information on those sites that may pertain directly to you and how you’re managing your rental property during this time of crisis.As we have said, county and municipal resources will be your best, but you want to know what the federal programs are for you as well.
Emergency Contacts for Residents and Owners
Make sure your emergency contact list is updated and accurate. If you’re a resident, you should have phone numbers for family members who can be reached if necessary. If you’re living with roommates, make sure everyone has updated contact information.
Our resident services team is prepared to collect that information from you.
Owners should also have emergency contact information on file with us, and we’ll especially need a back-up contact in case we can’t reach you and we need to make a decision or get into the property.
If you want some more information on how to respond to the coronavirus and what you should do to protect your property and your residents, contact us at Mynd Property Management. We have resources that may be helpful to rental property owners in Dallas or the North Texas area. Whether you’re an owner or a resident, please contact us if you need assistance of any kind.