Landlord offers free rent to residents as COVID-19 measures damage economy
LOUISVILLE, Ky. (WAVE) - Managers of a Middletown apartment complex are giving residents a break when it comes to rent this month as the economic damage caused by the coronavirus starts to impact Kentuckians.
Wendy Hagan, the president of Hagan Properties and Multifamily Development, which owns Victory Knoll Apartments, said rent in April is now free for current residents.
“A couple of weeks before April 1 came around, we were already thinking about what our residents must be feeling, starting to anticipate that their rent would be due,” she told WAVE 3 News. “As a company, we talked about what can we do to help them not have to worry about the one thing that is most important to any person, which is where am I going to live.”
Hagan said in May, a late fee, which would typically be applied after the first of the month, will now be pushed back until the middle of the month.
She said that will allow renters about six weeks to get their finances in order and receive government assistance if need.
The developer said it amounts to a total of $350,000 in rent abatement.
“We thought it was more important to take care of the people who live there than to worry about the bottom line,” Hagan said.
She said she thought it was important to help those in the community, as she saw so many others doing the same. Hagan said other landlords should consider offering similar relief if they can afford it.
Hagan said the business will reassess their residents’ needs and how they can help every month.
Victory Knoll is a 470 unit community that currently has 288 units occupied. Its construction began last year, and it is due to be completed by the end of December.
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