June for National Small Business Landlords Month?
The US National landlords day won’t arrive till next November. But given how vital small business landlords are to communities and the new stay at home economy, should we designate June as national small landlord’s month?
In today’s economy it seems big business is the squeaky wheel that always gets the grease. Yet, in the midst of the Corona Virus pandemic and shutdown, we’ve seen big business is more than well taken care of.
It’s not easy for any small business to exist or thrive today because they don’t possess the resources a large property management company enjoys. Yet small landlords often give more than they take. They’re vital even when they’re not discounting rents or giving up rent payments.
What we recommend for small landlords is to continue providing excellent service, use your automated property management software, and push for more funds to get through this period. See resources below. Tenants should fight for this too.
More Awareness Of Small Landlords Needed
Consider the workload for most small landlords
Besides an understanding of their plight, what’s needed next is stimulus for tenants and small business landlords. This is where money is better spent to avoid catastrophe at the city level.
Most small businesses have been toiling to survive the last few months and they’re given little respect by the media. Small business landlords for instance are seeing rent revenues fall, no holiday from paying their taxes, and in some cases, they’re giving tenants free rent holidays. The burden from the shutdown has been thrown on them.
Small business landlords must manage their finances very well, in fact, today more than ever. And as demands on them grow and the balance sheet looks grim, it is about time some started to speak up about their situation.
Small Landlords Are Vital to Tenants and Communities
After all, landlords are the ones taking care of tenants and the rental units. Whereas big rental property investment firms hire property management companies to execute the real work of fixing toilets, shovelling snow, getting rid of pests, and collecting rent.
Consider the stress of the small landlord who must pay property taxes and mortgages while waiting on tenants to receive government checks to pay previous months rent. And for many of them in Los Angeles or New York, it’s a rent control situation.
Small Landlords Month?
Let’s make June, our help small landlords month. Let’s appreciate the risk they take and then hard work they do along with how important they are to their communities and to the national economy. It’s the same in Australia, UK, Germany and Canada, as they take on all challenges alone in this pandemic and support their tenants.
Financial Resources for Small Landlords
Let’s leave no stone unturned to help small business landlords cope with this awful period. Share this post to spread the word.
And,
- check out our post on small business support included in the CARES act and the PPP program (for those with an employee).
- check the disaster assistance program from SBA: sba.gov/disaster-assistance/coronavirus-covid-19
- reorganize your taxes, by redistributing your net operating losses across a period of up to five years, with no taxable income limit
ManageCasa, designed as an all in one solution for small landlords
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