Crises create opportunity. The choice is crucial — choose to prosper in crisis, or choose to perish. We’ll explain how to prosper.
Let go of the fear.
The natural reaction for 99% of people when a crisis hits is fear. Recognize it for what it is. Fear can be good…as long as you don’t let it control you or your decisions. Respect fear. Investigate it. Find the weak points in the situation. The risks. Then let go of the fear and move forward cautiously.
Eyes wide open for opportunity
Crises create massive change, and within change is opportunity. Opportunities won’t run you over with a cement truck. You have to go looking for them. But they are there! Every time. Sometimes in the places you least expect!
This is as bad as it gets
If a tenant qualifies through our rigid tenant screening criteria when times are bad then it only stands to reason that the situation can only get better. We recruit resourceful tenant prospects — tenants who can still pay their rent if the transmission in the car blows up. So as long as they pass the test during the worst of times, it can only get better!
The fear is gone
Crises create fear, and fear usually causes tenants to hunker down. Only the bold and the confident will dare to move during a crisis. Those character traits aren’t guarantees for a good tenant, but they are a good start.
Summary – risk analysis
In summary, evaluate the risks. Then do risk analysis. Is the reward greater than the risk by a significant amount? Block the emotions from the decision as best you can. Housing can be an emotional decision because it is one of the basic human needs. But try to look at it objectively and without the emotion involved. Then come to a good decision.
Once you make the decision, sleep on it. If the decision is the same the next day then the next step is to make that decision the right decision. Act boldly. Goethe is credited with saying “Boldness has genius, power and magic.” Move forward and don’t look back, and you can prosper in crisis.