It has been a very happening first 3 months of a new year. I can’t believe it’s only April. We have had many “events” that took place at Uno Property, some good, others not so much.
Quick Market Update:
- Uno Property rented 80+ Properties in the first quarter of 2022, this is a record number of properties rented especially when our letting agent was off work from Covid for over 2 weeks;
- Average days on market is around 19 days;
- We have had 31 reports of leaks and flooding from the March heavy rain and at the same time we had 3 properties with collapsed ceilings;
- We are welcoming over 40 new landlords who signed our contract and entrust us with the management of their investment properties.
- Apartment rents are continuing their downward trend. Some apartment rents have dropped 40%.
- There have been an increasing number of tenants breaking their fixed-term lease due to changing personal circumstances.
Quick Team Update:
- We have had 50% of our team down with Covid. All of us have caught Covid from our children’s school or Daycare, all of us are recovered.
- We have some issues with getting access to do viewings for tenanted properties as some tenants are isolated at home.
- We are currently not doing routine inspections by physically visiting properties as we had huge numbers of tenants not wanting us to go into the properties. In quarter 2, we are hoping to resume our routine inspections.
- There has been an across the board delay in organizing maintenance, Healthy Home Assessment, Healthy home compliance work, insurance claim assessment and processing insurance claims.
To celebrate surviving Covid and such a strong quarter despite the fact we were operating at 60%-80% capacity during the month of March, the Uno Property Team went to Tree Adventure in Woodhill.
We are refreshed and ready to take on what the second quarter of 2022 brings to us. Uno Property will focus on specifically standardizing our operational processes which have been optimized for better customer experience.
If you have any comments, issues or complements, I welcome your feedback directly to me.