To those of you out there on the principal side, what kind of policies or plans are you putting in place to deal with Covid-19? I'm hoping to crowd source some best practices here.
Some things we have implemented:
Cutting business travel, handling OACs via conference call, and doing site walks via drone or video call.
Working with property management on plans to run our properties on a skeleton crew while guaranteeing wages to hourly workers.
Increasing advertising and incentives for potential to try and get at least some traffic and leases signed, preferably online.
Reaching out to lenders and investors to work on contingency plans for potential 2-4 month construction delays.
What has your firm come up with?
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