Benjamin Sens, from BOSS Construction Group, interviews Benjamin Gene, Managing Member at Keyes Property Management.
Both discuss times during pandemic, systems being used, and processes for business to continue. Also Benjamin Gene goes into Keyes Property Management.
More Information on Keyes Property Management:
https://keyespropertymanagement.keyes.com/
Transcript
Benjamin Gene
bar owners say why are we paying our HOA dues? When we can’t use the facilities or our tenants can’t use the facilities? And you don’t have to explain to them it’s like having car insurance, right? If your car’s in the in the shop, you’re still paying for your car insurance during that time, right? Absolutely. Not pay your HOA dues. But it has been a significant challenge, I would say for our landlords we have there’s a lot of fear out there. Right. You know, nobody knows what’s going to happen, how long this is going to last. And I think the biggest issue that we’re dealing with is our landlords are concerned about rent as of today, and
Benjamin Sens
you guys are protecting that. Oh, of course. That’s phenomenal.
Benjamin Gene
Yeah, no, absolutely. And so as of today, for April, we’ve actually collected 89% of the monthly rent. We’ve had to work with some tenants, you know, to work out payment plans, so they may have paid half of April with a payment plan over the next few months. But I was very surprised that I mean, I’m even more optimistic about May, then some in the industry, I talked to people all over the country in my position and they’ve had the same results even better for April. Everyone’s concerned is may because most tenants were able to work half of March at least, and make some money. Now you have a lot of people out of out of work. You know, we’re doing our best to work with all of our tenants, we understand what’s going on. But rent is still due. And so how do we get around that? I think may you still have a significant amount of the country employed. And so I think we’re going to be, you know, in the 80 to 85%. For for me
Benjamin Sens
and, and and, you know, for example, I just got done with a city inspection this morning from Palm Beach County. Over in unincorporated, and you know, we’re just, I mean, I’m seeing an extreme, you know, level of service and patience and diligence for for just, just, just just everything to like, I mean, and people in the real estate profession and South Florida property owners. I mean, the cities are still, for the most part staying open. They’re operating in a different capacity. Like I could call Lake Worth, I could call Palm Beach County, I could get people on the phone and because they don’t have to deal with the public and stuff. They I’m actually getting getting things done and a lot more flexibility.
Benjamin Gene
Yeah, you’re absolutely right. And there’s no doubt that they’re still operating. You know, we’re still gonna get the letters if your law is not maintained, and we’re still getting, you know, some weed filings and things of that nature, but it is Yeah, a little bit easier to communicate with them and get things done. And I think oh, my God,
Benjamin Sens
and you’ve you’ve amazingly built built systems, build systems have technology built processes in place with move in and move out with tenants. I’ve done property management before as a realtor. I mean, some of the systems you have are amazing.
Benjamin Gene
Yeah, you know, we’re really fortunate. You know, it’s funny, because when this happened, and everybody went remote, and it took there was that week, where everything went dead quiet while all the companies started to focus on transitioning to be remote. And we set up the company remote, so we didn’t have that week lag time, which was really nice. But yeah, we try to be at the forefront of technology. You know, we utilize property management software system that allows for portal access for tenants and owners online payments, we do video move in and move out inspections of properties. So we don’t rely just on a written walk sheet. You know, we even have an online screening system for all of our agents that anybody that needs to use it. But yeah, we really try to be at the forefront where, you know, there’s an app, everything can be done on the computer. And so that also helps us with social distancing and safety for our people during this time.
Benjamin Sens
That is phenomenal. Okay. And, and and so while we recommend, well, when when we recommend moving in and moving out and social distancing, people are people are still operating, which is, which is which is really good. As far as our is most of the portfolios and the investors that you manage? Or is that more your 12 to 1400 dollar rent, like your workforce housing, or it varies?
Benjamin Gene
Yeah, I mean, so we have now over 750 units that we manage, wow, family, multifamily and commercial and the average rent that we have is about 17 So we have to do anything under 1000 a month. But our average okay is seven. So we’re a little bit higher than the workforce housing I would say. Go family residential, but yeah, Miami to Port St. Lucie. So we do see a broad spectrum of the type of housing that we do.
Benjamin Sens
That’s, that’s, that’s really phenomenal. And we and again, you know, I heard a lot of people they wanted to stay away from these rental communities and apartment leasing companies and they want to lease from landlords, they want to lease from your clients.
Benjamin Gene
Yeah, look, there’s because the
Benjamin Sens
rent is sustainable and there’s a good level of service.
Benjamin Gene
Yeah, you get a great level of service. If you have a good professional property management company. You know, we respond to maintenance a lot quicker than then somebody else might be able to if they have a limited staff, and the other side of it is that you’re getting the There is a luxury piece to renting from a private landlord or property management company if you’re living in an apartment building, you know, think about social distancing right now. Okay, if you live in Iraq, ha, you know, the elevator doors open somebody’s in there, you know, do you get in or do you have to wait for another elevator? Right? Yeah. I mean it’s it is and with the high rises too, you know, you and I both have young children, you know, and two dads. I couldn’t imagine doing this in a condo or a high rise. You know, our backyard and pool get get more use of the lat have gotten more use in the last two months and they did the last five years. So you know, there is a luxury to the to the single family landlord or to the property management company that may not have a large multifamily property.
Benjamin Sens
And you know, people right now again, they’re getting a little stir crazy. They the older kids are out of school, they could get outside I’ve seen a lot of people get to know their neighbors and their communities, and people connect on many levels. So I mean that that is that has been remarkable. I mean, we don’t while we don’t know when, when when Disney World is opening or Disneyland, we’re gonna get to spend time with our, with our families and our kids and also just just maintain our relationships with people, which is phenomenal using technology like this.
Benjamin Gene
Yeah, you know, certainly with the technology side, but going back to your point, which is there are very few times in your life where you see these types of situations happen. It’s sad that it takes a situation like this, for people to start being a little bit more kind to one another to be a little bit more understanding. You know, it you know, and we’re seeing that which is which is really nuts. I hope that continues and that it doesn’t take a pandemic or some internet Actual prices for that to continue because it is really nice to see. It’s great to spend time with family, you know, but I also now recognize and realize why I passed over that foods at the career fair. That’s an educator. I’m certainly not equipped to be teaching my children, I don’t think,
Benjamin Sens
correct. I mean, no salaries over here. I mean, I mean, three hours a day, you know, homeschool. You know, my wife and Olivia is going to be six now, and I know you have young kids as well. And, you know, we’re just, we’re just seeing families out there. Just just again, again, doing the right thing. And, you know, you and I, you know, we love to go out. We love to go for pizza cigar, we’d like to go to Flanagan’s and even though while we’re not doing that right now, it’s amazing to conduct the business at home, conduct the business and then and again, the it’s amazing the real estate closings are still happening. But the people or who from what I’ve seen the people who have are the biggest problem solvers troubleshooters. have the tools like highs property management in their toolbox or learn how to pull a learn how to resolve permits or mortgage situations. These troubleshooters are the ones who are getting things through. Yeah, and are sustainable.
Benjamin Gene
Right, there’s no question. I mean, if you think about this, you know, even even 15 years ago, right, what we’re doing now probably wouldn’t have been as successful. Right? Yeah, what we have today, it’s, it’s amazing that we’re fortunate to have what we have today, in order to be able to do what we’re doing. My wife is in the healthcare field. She sells it in the healthcare field. And what they’ve done is amazing, you know, with regard to you know, sending testing results by phone and setting up all of these Systems overnight. You know, like you said, we’re very fortunate to have these technologies. You know, I am excited and I can’t wait to get back to normal, if you will. Be sure it is nice to see people in person. And I think most of us sitting at home working are missing that that element, right, that physical, even if you’re six feet apart, seeing someone in person goes a long way. You know, I’ve always said, You know, I like talking to people in person more than making phone calls or sending text messages. And so I’m excited for the days when we can get back to that,
Benjamin Sens
whether it’s providing health care, like your wife or housing, or investment opportunities. these are these are real, these are really a commodity, what’s being provided right now. So it’s, it’s phenomenal and it’s always gonna be there. And, again, I really appreciate you coming on the show today and telling us about what you’re doing, how you’re navigating these these things. situations, because I know a lot of people are at home. And I know a lot of people want to access and they want to hear what’s going on.
Benjamin Gene
Yeah, and but there’s a lot of suffering out there. I don’t want to diminish that, you know, we there are people that have lost jobs that can’t afford things. We’re very fortunate. And I’m grateful for what we have. We’re trying to help absolutely much as we can. But thank you for having me. I think it’s wonderful to see your face. We’re supposed to have a night out that got canceled due to error. Sure. And we’ll have
Benjamin Sens
each other and in
Benjamin Gene
passing somewhere, of course, we will. Absolutely. And know all the best for your family. And, you know, thank you for doing this because before it’s a great opportunity, I think what you’re doing is wonderful to me.
Benjamin Sens
And how, how can our viewership who are investors who are property owners throughout South Florida, how could How could they engage or reach with you or set up consultation if they need any of your resources or have questions? Sure.
Benjamin Gene
Yeah. So we have always our website Kai’s pm calm, that’s ke ye s it’s not keys, I know many Okay, eyes, guys, pa calm which has our contact information. You can call us you can email us through the site. And you know, find us on Facebook, Instagram, you know all the socials. And, you know, we’re happy to chat with anybody even if you have questions. Look, you know, I tell this to our realtors all the time. You know, not every owner is going to walk or need professional property management. But we’re here as a resource. We’re trying to help people do the right thing and stay out of trouble. And so if you have questions we’re here to help. We have some Allah carte services if you don’t want the full package, like the move in move out video inspections and screening things of that nature.
Benjamin Sens
Yeah, I mean again and depending on On, depending on the type of investor or their business position, they might just need tenant services. Or if, you know, they might just need help procuring the tenant, they might need help with a particular legal action they might need full on. And they might be completely absentee owners. And so that’s nice how that’s nice how you formed your company and your level of service to offer to other people, which is really critical.
Benjamin Gene
Absolutely, yeah. We’re always feel free to reach out, you know, and good luck to everybody stay safe and healthy.
Benjamin Sens
Thank you, Benji so much, and guys be safe. And if you like this content, and these interviews and these things we’re providing, please Like our Facebook page, cause property management company, Boss construction group. We’re providing not only people in the real estate industry, but we’re providing South Florida property owners with a really cool resource and we’re always here for you stay safe. Thank you, Benji.
Benjamin Gene
Thanks, guys.
Transcribed by https://otter.ai
