Five rules to live by during a pandemic and implications for Real Estate practice

Five rules to live by during a pandemic and implications for Real Estate practice

While it might feel as if the coronavirus crisis is over, it’s not. The virus is still out there. But some things have changed.

And because life during a permanent lockdown isn't sustainable, public health experts are beginning to embrace a "harm reduction" approach, giving people alternatives to strict quarantine. These options — like forming a "bubble" with another household or moving social activities outdoors — don’t eliminate risk, but they minimize it as people try to return to daily life.

Nobody knows exactly what will happen as cities and communities open up. The most likely scenario is that virus cases will continue to surge and fall around the globe for the foreseeable future.

It's hard to imagine how we will avoid another surge in infections, which is why these harm reduction approaches that keep people away from much higher risk situations are so important,” suggests a prominent Harvard Medical School epidemiologist.

While we've learned to live with masks and social distancing, as well as new rituals of hand-washing after handling packages and touching surfaces, we need some basic rules to minimize risk and still have a life going forward. We're suggesting these five tools / rules to live by during this time:

  • Check your health (and that of your Family and Community) regularly
    • Use a thermometer and a oxipulsemeter
    • Test yourself, if you feel ill
  • Limit the number of your daily close contacts
    • You are safest at home so care is needed when you venture out
  • Manage your own budget
    • Risk is cumulative so you’ll have to make trade-offs, skipping things that matter less
  • Identify and keep higher risk activities to a minimum
    • Make your plans BUT keep asking – 'is it worth it'?
  • Keep up your regular Pandemic precautions
    • Wear the mask, wash the hands, practice distancing

Implications for Real Estate:

  • Social distancing forces a reduction in the intensity of business, where the built environment, designed to accommodate a large number of people, is now to be used sans 50% of the people, in the least!
  • We are moving towards "touchless" and "contactless" technologies in bathrooms, elevators, doors
  • Sanitisation systems are in place and are working
  • Most importantly, consumers of the Built Environment need to be made aware of the changes and should adopt these new practices
  • The reset to business and real estate practice on account of COVID-19 represent "New Normal" norms and practices

About the Author

Jonathan Yach, MRICS

Jonathan Yach, MRICS

Jonathan is a 35 year real estate services and management veteran, with hand-on management experience in the complex markets of South /East African and India