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:
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Cutting business travel, handling OACs via conference call, and doing site walks via drone or video call.
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Working with property management on plans to run our properties on a skeleton crew while guaranteeing wages to hourly workers.
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Increasing advertising and incentives for potential to try and get at least some traffic and leases signed, preferably online.
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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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