All Forum Posts by: Stacy Davis

I was wondering if I could get some help. Found a 3 family property in Concord, NH. Just before we were going to put in an offer we were told there was a known lead issue from back in 1999. 

We now hesitate to put an offer in. Does anyone know how big a deal this really is? Most multi families here were built before 1978. The 3 we own were all built before 1978 but with no known lead issue on file. Of course we do give renters the speech and accompanying paperwork explaining there is no known lead issue but because the building was built before 1978 the potential is there.

Other question I have is how much it will affect rental income, potential tenants and the marketability of it if we want to sell it. 

The building is fully rented but I did notice there were no children there. These are 3 bedroom units that I had hopes would be ideal for families.

If anyone knows anything about known lead issues and the law would be valuable too. 

I really hate to lose this place as 3 and 4 families are difficult to find and they go quick when you do find one that's fairly decent.

Should I go ahead with an offer , if so, should there be contingencies ? Any help here would be appreciated.

 Hi Eric, I know a few. What are you looking to have done?

 Hi Matt, I appreciate the response. Unfortunately drugs, particularly heroin isn't limited to inner city or lower class anymore. It's pervasive in every area. They were screened well. No evictions, prior landlords checked out, credit scores higher than most and good jobs. The typical "junkie" now is nowhere near what it used to be.

 Hi Matt, thank you for your response. Unfortunately drugs, particularly heroin isn't limited to inner city or lower class anymore. It's pervasive in every area. They were screened well. No evictions, prior landlords checked out, credit scores higher than most and good jobs. The typical "junkie" now is nowhere near what it used to be.

 Screening process is pretty good I think. They had no arrests, no evictions and high credit scores. Unfortunately drugs (particularly heroin) is not just in the slums of inner city anymore. Heroin use isn't limited to lower class anymore either. Miss America could be a heroin addict. Junkies aren't what they used to be.

 Thank you Nathan, how you put it is exactly what I was looking for!

My current lease for tenants is pretty basic. Covers the obvious things. I've lurked in these forums for quite some time and I've come across things where I think "Oh, we need that in the lease...and that...and damn we don't have that either". Now I can't find those particular things. Example: One thing that we don't have in the lease is anything about drugs. I've had tenants overdose in the building twice now. I'd really like some advice and recourse on this as drug use is a big problem in Manchester NH. 

Any help would be greatly appreciated. Thank you.

Unless it's general yard maintenance (such as picking up after a pet) I do not make anything the tenants responsibility for maintenance. I encourage them to let me know immediately if there is a problem. One tenant took 12 hours to tell me that he had no water in the middle of winter. That could have been a big problem, luckily , it wasn't but I don't want tenants waiting that long to contact me.

The only time they are responsible for anything is if it was a direct consequence of something they did or didn't do such as their child that flushes a doll down the toilet.

We have in special circumstances lowered rent for people. Just did it last night for a girl who lost her roommate. She desperately wants to make it on her own, works hard, never been late with rent. We also point them in the direction of services that they can qualify for such as fuel assistance, electricity assistance. It comes with the stipulation that they pay on the day rent is due or eviction will immediately commence. We are especially open to this in winter months when people aren't moving as much. Rather than lose a tenant in January and go weeks to month without any income, I'll lower the rent $50 a month for the duration of their lease and not renew.

I actually paint the countertops to look like granite. They sell kits for this. Cheap, durable. They come out beautifully if done right.