Derek Lobo, CEO of SVN Rock Advisors, makes his second appearance on the podcast in this episode. The focus of today’s discussion with Aaron and Adam is how apartment landlords can handle and manage rent collection in these unprecedented times, as COVID-19 continues to escalate.
With many tenants potentially unable to pay rent, Derek shares his thoughts on how to deal with them compassionately. The three then get into how real estate investments can be affected by other industries. Later, Derek provides a positive message for anyone who is worrying about what COVID-19 will bring.
Topics covered include:
- The first thing you should be doing as an apartment building owner.
- What to expect for April 1 rent payment and beyond.
- Thinking about people in tougher situations.
- Aiming to keep the building full.
- Proactively dealing with the “front door” and the “back door” of your building.
- Communicating with tenants and utilizing payment plans.
- Different types of tenants and how some will be more affected than others.
- How rent control can influence decision making during the pandemic.
- Information that SVN Rock Advisors will be compiling and sharing.
- SVN webinars based on COVID-19: https://svnrock.ca/
- Cap rates and how Derek has seen them affected over the years.
- Both sellers and buyers wanting to pause.
- Pulling out apartment equity to solve problems elsewhere.
- What to do if the deal flow slows down.
- Looking back on other scary times in Derek’s life.
- Worrying solves nothing.
A bit about our guest….
Derek Lobo is the CEO and Broker of Record at SVN Rock Advisors. He is regarded as a knowledgeable expert in the Student Housing Field and in the Apartment Industry and has provided numerous seminars and training programs for every level of apartment professional, ranging from owners and property managers to leasing agents and on-site personnel. His extensive knowledge of the industry has placed him as an in-demand presenter and consultant throughout North America.
Email: Derek.Lobo [at] SVN.com
Derek Lobo: LinkedIn
Derek’s first appearance on the CRE Podcast
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