All Forum Posts by: Rob L.

@Brian Richardson hope to see you there tomorrow night. 

No problem @Daniel Ortiz see you there! 

@Thomas Hickey No facebook group yet. This group is old school and literally didn't have any web presence until now. I did create a meetup, which you can follow. Meetup.com link

@Daniel Ortiz

Details below, see you there. 

• 01/23/18 06:00PM - 08:00PM
• 155-157 Winter st, Haverhill, Massachusetts 01835
• Cost: Free

Hello Everyone, 

Just posting this event for the Haverhill Real Estate Guild. Its a long standing meetup that offers a ton of knowledge sharing. I have personally never attended a meetup that has more property owners than these.  The upcoming meeting should be great. We have a licensed lead inspector coming to discuss the new lead law chanfes and the effects it will have on our business. Also, attorney Mark Burell will provide an update on Occupancy Permits as well. 

Event Details: 

Networking, then discussions on the recent Lead Law Changes and the effects on your Real Estate business. Update on the Class Action suit from Mark Burell for Occupancy Permits. Open Q&A.

LEAD LAW CHANGES

Licensed lead inspector Alan Cusia is going to give a presentation specifically on the changes in the lead regulations. You may be aware that the "poisoned" level is being lowered again. Along with this there are a number of surfaces which have been removed from the mouth-able list. The devil is in the details and even if you have certificates you best come.

massachusetts, haverhill, lawrence, methuen, lowell

forgot to @Joseph Theriault

no worries! It was the holiday and all. My email is [email protected]. 

Thanks, Rob. 

Hey Joseph, I'm interested in getting more information on this one. Any restrictions on building or splitting up the lot? 

@Account Closed If you purchasing a property and signed the P&S then its time to establish the LLC. No need to do it before. I would make sure your lender knows it will be held in an LLC and they are ok with it. I personally wouldn't use some of the websites people have mentioned to set it up. I like talking to a lawyer face to face but that's just me.

If you need a good lawyer recommendation let me know. I see your also in mass. 

Sorry @James Denon  for the late response. I'm up in NH on vaca. So we read the main house meter and all of the individual meters and calculate the usage. Each city when they send you the bill includes the cost of water and sewerage. We use that cost per unit in calculating the bill for the tenants and we include all of that information in the bill. The law outlines all of the specific information you must include in the bill. 

He sends out bills on a monthly basis. One thing to note about the licensed plumber. You need to have them fill out this form, 

http://www.mass.gov/eohhs/docs/dph/environmental/s...

Once it's signed you need to have it filed with the city board of health. Depending on the city you may come across some confused people when you try to give them this form. We had one city hall pass us along to 3 or 4 different people/departments before someone knew what the form was and what to do with it. Other cities deal with it all the time and are familiar with water submetering. It's also a good practice to include a copy of this form with your lease just like you would a lead cert if you have it. 

Lastly, remember to remind your PM that you should send 7-day notices for non-payment of utilities on this if people are late. 

@James Denon We work with a successful investor out of Haverhill that has all of his buildings submetered. He has billed out for over 150k of water over the years....enough to buy a nice car or two. 

 After seeing his success with it we have started to sub-meter all of our buildings as well. 

Couple things to note. He bills on a monthly basis so tenants aren't faced with a large bill each quarter. That means your property manager will have to go out and read the meters and then send invoices. Confirm what they will charge for this (hopefully, its included in your fee). Also, this enables you to send 7-day notices for non-payment of the utility. So its easier to evict people if you need to for non-payment. 

I wouldn't worry about the inspection for plumbing. Its pretty straightforward and makes sense if you're redoing all of the plumbing now. Seems like a no-brainer to me. 

Happy to answer any other questions on it.