New investor here. I am under contract for a BRRRR project. (built in 1987, 1500 SF, 3/2, 6000 SF lot). The elderly (87 yr) owner passed away at home. My plan was to repair and bring this house up to date and then rent it out. In California, we have to disclose any death within 3 years. From your experience or own preference, does this matter? How should I convey the message to renters? Do I just write in the ads (probably not, since we don't write it when we sell a house, we just let the realtors deal with this with their clients). Or Do I causally say, "Just FYI, the previous owner passed away at home peacefully," when someone is ready to submit an application? Should I price the house lower? A brand new house with a similar size but a tiny lot (2000 s.f) rents $2800-2900; an older home with a similar size but outdated interior rents $2500-2600. I plan to price this house at $2650.
I am just under contract. I still can get out if this is a huge red flag.
Practically no one will care that an 87 year old passed naturally at home. A drug dealer slaughtering an innocent family there, and he is still on the loose, people would care.
I'd just bury it in the lease between the Megan's Law notice and Lead Paint disclosure. Something like "Death by natural causes occurred on premises within last 3 years".
Practically no one will care that an 87 year old passed naturally at home. A drug dealer slaughtering an innocent family there, and he is still on the loose, people would care.
I'd just bury it in the lease between the Megan's Law notice and Lead Paint disclosure. Something like "Death by natural causes occurred on premises within last 3 years".
Exactly what I was thinking. Bury it in the lease. They will then be Aknowledging this when they sign the lease.
If there was an obituary, just clip it to the last page of the lease. Maybe it will even say what a great humanitarian he was and how he loved fishing, his home and 14 cats. If he was a serial killer, and you're not his family, and just a flipper, forget it. How would you know or care? Is there a specification that for everytime the house sells it must include the dead guy? I would think that since you were the buyer and once removed, the requirement ends.
I agree with the others in this thread. I wouldn't try to hide the information, but wouldn't lead with that in the advertisement. If you have made quality repairs and it is an amazing space I think California renters will snatch it up. I would start at the value you believe it to be worth and if there is push back (I dont think there will be) drop it as needed