Open Letter from Ad Astra Realty, Inc

This is an open letter from Ad Astra Realty, Inc to our employees, contractors, owners, tenants and applicants.

These are interesting times. Not in my lifetime have we had a health crisis such as the one we now face. Before us is a novel coranavirus named COVID-19 and the information and misinformation surrounding top topic can become overwhelming. I will do my best to parse the information and, therefore, our response as best possible to each of you.

EMPLOYEES

Effective immediately I have asked our employees to work from home by telephone, computer and video conferencing as much as possible. When necessary, and they are in the office, I’ve asked them to keep their distance from one-another and to disinfect the building a minimum of once per day.

CONTRACTORS

Our independent contractors who primarily work on maintenance issues are, well, independent. Each contractor has a choice to make as to their exposure in regards to their health, their well-being and that of their loved ones.

MAINTENANCE

For the near foreseeable future, maintenance will be systematically prioritized as to whether this is an emergency, urgent, important or preferable. We will be in close communication with our tenants, contractors and owners to determine necessity, timing and risk.

This is NOT to say maintenance will not be taken care of. This IS to say that should contractors become harder to book and should tenants decided not to allow “strangers” into their homes for the near term, maintenance will have to prioritized properly.

OWNERS

We will continue to monitor and manage your investment properties diligently. When necessary or highly desirable, we will be in contact with your tenants and yourselves. Our fiduciary responsibilities to you have not changed.

TENANTS

We are asking each of you to stay in communication should you have maintenance issues and to exercise patience as we work with you to schedule.

We prefer when tenants make their rent payments online. Talk about your social distancing. We are also asking that for those of you who prefer to pay by check in person are asked to deliver your payment to our drop box closely located to the right-hand door of our office. Please do not enter the facility unless absolutely necessary. We love seeing you and will again… just right now we are looking to comply with the best advice our medical professionals are giving to us.

APPLICANTS

This may/may not slow down the process of renting our properties available. We hope not and will do everything in our power to alleviate any time constraints. We thank you for your patience in advance.

SUMMARY

We do not know how “big” this will get or how long this will last. If we look overseas to Iran, Italy, Spain, France and Germany, well, the forecast looks a little bleak. When we look to the past we know that most pandemics last somewhere in the three month range.

Yet, we also know that we don’t know exactly how THIS virus reacts in comparison to its cousin viruses of similar values.

We do know this; For the coming weeks we will be in new territory, inconvenienced and there will be economic impact. Of what magnitudes we can only wait and see.

Should you have any questions or comments, please do not hesitate to reach out to either myself or Jimmy. We are here to help.