Bed bugs a reason to sell?

[Randi Knight]

Apologies, I'm sure the topic makes your skin crawl but has anyone ever sold (or considered selling) due to a bed bug infestation? Many jurisdictions require a property owner start remediation within days and many laws hold the property owner responsible for extermination and upfront costs even when the tenant is 100% liable. Remediation, if caught late, can be a never-ending battle costing tens of thousands or more (especially if it's a multi-unit or adjoining another building). Then there's cost to the tenant (in or out of court) and possibly penalties from the local government. More DC property owners are experiencing this issue especially with the rise in tenants previously living in shelters or communal dwellings. DC is extremely tenant-conscious and the city has essentially pushed the homeless problem onto property owners. A fellow landlord is considering selling now to mitigate future losses. She's addressing the problem but on a scale of 1 to 10, her exterminator says the problem is a 7. She said she'd have to disclose the problem to potential buyers but thinks she'll still fare well in the current market.

[John Warren]

@Randi Knight bed bugs are one of the unfortunate things that comes with the territory as you scale into larger buildings, so I run into them on almost every project I buy anymore. I most recently purchased a seven unit in Berwyn that had both **** roaches and bed bugs (sigh). With all that being said, they aren't quite as hard to get rid of as you think. Typically, a good exterminator will need to come back monthly for about a year to make sure you are in the clear. My guy is only charging me around $75-150 each time he comes so I will be fine long term. I keep an eye out for about six months after the last sighting of bed bugs to make sure every egg has hatched and they are completely gone. They can come roaring back if you don't pay attention. 

The other alternative is a bit more expensive up front, but I have done this as well. You simply do a heat treatment of the house/apartment. We did this at a 19 unit building we picked up in Berwyn and it was around $900 per apartment. The company sent two guys who brought in commercial heaters to heat the place up to like 135-140 degrees for the day. They also sprayed a bunch of chemicals in addition, and this pretty much solves the problem immediately (but with more upfront cost).