To Renovate or Not, Tax Escalation Clauses

[Jillian Campayno]

*Part I: Tax Escalation Clauses

Leases have the advantage of providing long-term stability for you and your renter. But sudden real estate tax increases can destroy a carefully calculated rent and turn a lease upside-down, eliminating the net income you were banking on. Is there anything you can do?

Come learn about tax escalation clauses, which when added prior to a tenancy can give you an emergency escape out of a losing lease.

We're review the section of the law that applies. Attendees will leave with the exact wording in our "Optional Clauses." Finally, we'll have a brief discussion on whether escalators should be invoked routinely or only in case of emergency.

*Part II: A Landlord Case Study: Does it Make Sense to Renovate Your Rental?

Renovations can be costly and stressful. Does the reward justify the investment? In this featured part of the presentation, we will review actual numbers from a renovation in Fitchburg and look at the return on investment. Pictures will be in plentiful supply as we examine what this one owner did, and how they did it. Cost containment will feature prominently, as will the change in renter dynamics before and after the renovation.

This part of the presentation will be given by Brian Lucier of Belaire Property Management. Member input and renovation tips are welcome.

*Have you seen our Leave Stuff, Take Stuff Table?

Market your business, pick up handouts, give away an old doorknob. Everything goes on our first-come, first-served display table at all our events. Please bring business cards, brochures, coupons. And feel free to pick up your own uncollected marketing materials at the end. Everything not claimed end-of-event may be chucked.

*"No Sales Pitch" Guarantee

MassLandlords offers attendees of directly managed events a "No Sales Pitch" guarantee. If a guest speaker offers services, their presentation will not discuss pricing, promotions, or reasons why you should hire them. We do not permit speakers to pay for or sponsor events. Guest speakers are chosen for their expertise and willingness to present helpful educational content. Your purchase of an event ticket sustains our nonprofit model.

*Wednesday, February 12th Meeting Agenda

-5:30pm Sign-in/Networking

Networking draws from Worcester, Shrewsbury, Millbury, Auburn, Leicester, Paxton, Holden, West Boylston, Boylston, Grafton, Upton, Northbridge, Sutton, Oxford, Charlton, Spencer, Oakham, Rutland, Princeton, Clinton, and Sterling.

-6:15pm Buffet Dinner by The Vintage Grille

-6:40pm MassLandlords Business Update and Member Minutes

Member Minutes - Any member can have the mic for 60 seconds (introduce yourself, ask a question, share words of wisdom, etc.)

-7:00pm Rich Merlino Meeting Introduction

-7:05pm Tax Escalator Clauses

-7:20pm A Landlord Case Study: To Renovate or Not

-8:30pm Networking and one-on-one follow-up

-9:00pm Doors close

*Location

Fiddler's Green

19 Temple St

Worcester, MA 01604

*Getting There and Parking

Park in the lot along and behind the restaurant, on the street, or in the church lot across the street.

*Food

Cheese and crackers, sodas, water, coffee, decaf

Hot buffet dinner, incl. salad, rolls

Cookies, brownies, and/or blondies

*Dietary restrictions: purchase an early-bird ticket and email [email protected], we will accommodate you.

*Pricing

Open to the public. Membership is not required!

-Door:

Public: $24

Members: $19

-Early-bird, reserve seven days prior by 12pm:

Public: $22

Members: $14

Premium Members: No charge and no need to register

*Extra Credit

-First time attendees: Join as a member before leaving the event, your public ticket will be credited toward membership.

-Members: Bring a first-time attendee who joins at the event, your membership will be extended by one month free. No limit.