All Forum Posts by: Jeff R.

@Matt Devincenzo You are correct. We spoke with Apartment Owners Association. They said that CAR has those forms in place only for sales of the property. From a property management perspective, there are no guidelines that are required to be followed.

Thank you @Tammy Mason @Kenneth Donaghy @Gregg Watkins @Chad Hale; this definitely has shed some light on property inspections during this COVID crisis. I hope the replies to this post are as helpful to other property owners and PM as it has been to me. 

Excerpts about the PEAD-V from the FAQ section;

Does the PEAD-V form have to be signed in advance of entering the property? I thought the PEAD form was optional.

Yes. The PEAD form was previously optional. But now the Industry Guidance requires all persons entering the property to 1) comply with the Posted Rules of Entry as a condition of entry, and 2) agree to the prevention plan. So, in signing the PEAD-V, visitors are at the same time agreeing to these two sets of rules – which is required.

Does any other document need to be signed in advance by a person entering the property?

No. Only the PEAD-V needs to be signed. But the prevention plan is pre-checked and attached to the PEAD-V. So, a buyer who electronically signs the PEAD-V will agree to and receive the prevention plan.

Who must sign the PEAD-V?

Every person entering the property including clients, appraisers, inspectors, stagers, contractors, repairmen and even buyer’s agents.

Does the PEAD-V have to be signed electronically?

Yes. Another Industry Guidance rule is that all information must be delivered electronically. Further, agents must discontinue providing handouts or other types of promotional or informational materials. So, the PEAD-V must be signed electronically.

What are other purposes of the PEAD-V?

In addition to obtaining the agreement to follow the Posted Rules for Entry and the prevention plan, the visitor assumes the risk of entering the property and the visitor attests they are not, to the best of their knowledge, afflicted with COVID-19, among other things.

Yes. because of COVID, she mentioned some disclosure. However, I reached out to a property manager out in San Diego County and has not come across such a mandated requirement. @Chad Hale

@Chad Hale The walkthrough is to check the condition of the property. We have not had the property checked/looked at in over 1.5 yrs and needed to have someone do a walkthrough like a PM company is expected to do. This was not a property manager, but a friend who lives in the area. The purpose was to make sure there is no damage, extra tenants not authorized, etc. 

@Aaron K. My tenant was informed 2 weeks prior to the walk through. She was 100 percent aware that I was having someone walk through, she went as far as to reach out to the person I had checking on my property in order to coordinate times. I assumed there was a new rule/law in Oceanside CA, in which tenants are to get some kind of disclosure that I was not aware of. One can always go and tack on extra documents in regards to liability, but if its not required by law, whats the point of having some disclosed stating the property is being inspected...She threw out COVID-19 like there was new legislation aside of no evictions. 

Im holding off on asking her to elaborate what she is referring to, and thought id be surprised of some new requirement for property-managers, property owners and the like, having to provide a disclosure to check on property conditions.  

I have a rental in California, SD County, where I have a tenant in place. I had a friend, who is not officially a property manager, walk through the property for an annual inspection. The tenant emails me stating that she did not receive a disclosure during the visit. Is this law? I live in Virginia, but I have not heard of such requirement. Her message was as follow;  

"BTW- I don't know if you are aware but the gal you had come over isn't a property manager. I asked her what company she is with and she said she isn't with one and that she just does work for you. With requirements of Covid and walkthroughs I was expecting her to bring disclosures over, etc. She didn't give me anything.
Just want you to be aware so if she does more walkthroughs for you she brings disclosures to the properties."

Is there truth to that? 

Thanks.

hi @Ryan Daigle, I am underwriting a deal in Greensboro where the property is not sub-metered, at which the current owner has incurred this expense. We are looking to get an idea of the cost of sub-metering vs including the average cost of utilities into the rent. 

@Patti Robertson thanks for that, i like that approach as well. 

Thank you @Sean Rooks, I will definitely look them up. 

@Greg Fitch Thank you for sharing that information. Your PM has a very valid point in regards to the lack of enforced payment of utilities. I deal with some renters that have lapsed on their utility payments and I get call and/or letters about the tenants default. If you do not mind sharing the NC sub-meter maker you know, id appreciate that POC. 

Does anyone have experience in the process of sub-metering multifamily apartments? Preferably in the Greensboro (Guilford County) NC area. 

Hi All, 

I am in the process of analyzing the cost of a flips rehab. One major cost is the property needs a whole new system. It has been determined the tank is no longer usable. Most of my flips have been within city limits, and the ones with a septic have had no issues. From experience, what are costs to consider when replacing a septic system in VA? From my research, I have estimated $15-$25k for an entire system, about $7k for tree clearing, and $2-3k for engineering diagram for the new system. I understand this question may sound vague, but this is my first with replacing a system.

Thanks for your input.

I would provide access to stay at a destination where ownership is required and at a competitive price.