Angst Corner

With unemployment on the rise and a recession bearing down on the country no one is immune to the possibility of being laid off or terminated from their job. A growing number of residents are fearful that their jobs are in jeopardy and nervous about the future. When job losses occur many do not have enough savings to survive the short term loss of income. Their fear, lack of savings and the reality that unemployment benefits may not be enough to cover rent, utilities, food and other necessities often results in residents moving out voluntarily or worse being forced out of their homes through the eviction process.

Instead of risking the loss of otherwise good residents here are some points one can do to support residents before and after job losses occur so that they can ride out the storm and stay in their homes.

• Seek out local professional Resume Writers to help residents prepare their resumes. Similarly, bringing a professional Interview or Career Coach to help residents determine their strengths and career path will help them feel more confident about finding a good job quickly.
• Seek out local financial counselors to help residents develop an overall game plan and provide practical advice such as cutting out non-essential luxuries, putting together an emergency budget and saving more money to ensure financial stability.
• Give permission to waive late fees and extend rent due dates especially to those residents who have good credit and paid their rent timely in the past. Giving residents an opportunity to get back on their feet without penalizing them will strengthen ones relationship with them and return tenfold in resident loyalty and retention.