140 Mayhill in Saddle Brook — Courtesy: Value Cos.
By Joshua Burd
Value Cos. has taken steps across its portfolio of apartment buildings to help ease residents’ concerns and ensure safety and social distancing during the coronavirus pandemic.
The Clifton-based company announced this week that it has transitioned all leasing efforts to digital platforms, seeking to comply with state and local regulations aimed at slowing the spread of COVID-19. To that end, Value Cos. is offering presentations featuring virtual tours of model homes, as well as FaceTime meetings with rental agents and their prospective tenants.
The firm’s portfolio includes more than 3,000 rental homes. Seeking to also relieve resident stress and provide some level of financial relief, it launched several other initiatives at the beginning of April, including:
- Crediting back increases to residents that renewed leases that have, or will, commence in the months of April, May, June and July;
- Offering two-year leases to both new applicants and existing residents who are renewing, who would like to lock into new rates for an extended 24-month period;
- Absorbing all service costs to residents who opt to pay monthly rent or account balances via credit card;
- Upon lease renewal, current residents are being offered a holdover period, from May to July, where there will be no increase of monthly rent without holdover fees, as a help to residents with future plans on hold;
- Waiving application fee(s) equaling $50 per applicant, with a campaign code: FREEAPP;
- Working directly, and personally, with hardship situations to help relieve stress of residents during the crisis.
“These are difficult times and we understand our residents may face challenges and obstacles that are out of their control,” said Jack Linefsky, vice president of property management for Value Cos. “We quickly drafted and implemented these new policies at the start of the pandemic to assist these residents and help alleviate anxiety as we all navigate through months of uncertainty ahead. In addition to these procedures, we’re also in constant communication with our resident base to provide any updates or new community regulations.”
