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Updated over 3 years ago,

User Stats

2
Posts
1
Votes
Randi Knight
  • Investor
  • Washington, DC
1
Votes |
2
Posts

Bed bugs a reason to sell?

Randi Knight
  • Investor
  • Washington, DC
Posted

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.

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