Augusta, Maine

[Mike Roy]

Hello BP - I'm curious if anyone here owns multifamilies in Augusta, ME and your thoughts on investing in the capital city.  From a 30,000 ft. view, it seems like there are some decent residential neighborhoods and a stable supply of jobs in government, healthcare and education.  However, population has been declining, and that's never good!  

I'd appreciate the insights from the boots on the ground.

Mike
 

[Amy A.]

I do not have buildings in Augusta, but I have friends who do.  Code enforcement has been shutting down old buildings in Augusta for not complying with modern codes.  Before you buy anything there, confirm with code enforcement that they will not require changes and do not assume that anything is grandfathered in.  

Also, the city is considering an ordinance that would require the landlord (or property manager) to prepare tenants' possessions for bedbug treatment.  Therefore, rather than having landlords and tenants work together to solve the bedbug problem, they are putting the entire responsibility on the owner, which will not solve the problem as tenants continue to re-introduce bedbugs to their apartments.   

Under current state law, the landlord must pay for bedbug decontamination, but the tenant must cooperate by laying out his own clothing and decluttering the apartment prior to treatment. 

These are just some things to consider.