All Forum Posts by: Patrick O'Neal

Living in the mountains of North Carolina has been a dream. Unfortunately, Hurricane Helene absolutely rocked our economy. Some locations lucked out and didn't get hit as hard but some areas near rivers got demolished. We don't get many natural disasters of this caliber so I'm not sure what to expect for the future. I've been doing some disaster inspections for lenders. The report makes a big deal about the neighborhood and local economy in addition to the property itself. It got me thinking about future property values and marketability. 

Has anyone seen a notable decrease in value/marketability shortly after a disaster? How long after the disaster will the value and marketability come back to normal?

Make sure you clearly identify the common areas (accessible to everyone living in the unit) and the private areas (like individual bedrooms). With all tenants, you should do your due diligence screening them. A lot of those items should be within a typical lease agreement. I usually get my leases from apartments.com but you may need to draft something special for roommates living in the same unit.