During these unprecedented times, our locally crowd sourced data provides up- to-the-minute market insight. Here are some preliminary insights from local leasing offices this week: 50% of leasing offices report a decrease in leasing interest from prospective tenants, 65% of leasing offices are only showing apartments online or virtually, and 35% of leasing offices reported proactive requests for reduced rent or waived rent. Nearly 16% reported move-outs because of the crisis, including students ending leases early. A representative sample of responses from our COVID-19 survey when asked how management companies are responding to the crisis and helping residents showed that companies are handling requests for reduced or waived rent on a case-by-case

1. During these unprecedented times, our locally crowd sourced data provides up-
to-the-minute market insight.
While Commercial Analytics collects its usual March Rent and Vacancy data,
we are adding supplemental COVID-19 questions to housing providers to help
guide you through this troubling time.
Here are some preliminary insights from local leasing offices this week:
• 50% of leasing offices report a decrease in leasing interest from
prospective tenants.
• 65% of leasing offices are only showing apartments online or virtually.
• 35% of leasing offices reported proactive requests for reduced rent or
waived rent.
• Nearly 16% reported move-outs because of the crisis, including students
ending leases early.
A representative sample of responses from our COVID-19 survey when
asked how management companies are responding to the crisis and
helping residents:
• Requests for reduced or waived rent are being directed to the business office and
handled on a case-by-case basis.
• Payment plan for laid-off worker, otherwise case-by-case basis.
• Providing tips and resources.
• Offering payment arrangements for tenants out of work; three prospective
tenants who were planning to move in backed out due to quarantine.
• Some rent credit because amenities are closed. The main management office is
trying to figure out how to let rent be paid later.
• Checking in with corporate office to potentially postpone a scheduled rent
increase.
• Awaiting guidance from Corp for a response on rent assistance.
• Offered third party financial help in the area.
• $500 off first month’s rent. Encouraging payment online.
• Willing to work with tenants' rent requests on a case-by-case basis
• $500 off first month, no application of administration fee. Emergency
maintenance only.
• Concessions: Mar, April and May free rent on a 12-month lease and $150
grocery card. All railings, door handles etc. being disinfected every day
• Office is closed. People who want to rent are doing self tours of the apartments.
• Some proactive inquiries from tenants about rent flexibility. Response to tenants:
no evictions, rent accrues, no late fees.