All Forum Posts by: Megan Phillips

@Christen G.  Good one, I'm adding that!

@Matt Vezina  I'm not worried about it being considered a "disguised late fee" I've heard both sides of the argument, my attorney said it's okay... worst case scenario, I just solely increase the rent without any early payment incentive. I think tenants would rather be able to pay on time at a reduced price, and consider it fair. It's easier than the statute of "late fee equals reasonable costs incurred by the owner due to late rent payment" or whatever -  because, as you stated, not one person has defined that for landlords here!

I do have it in there that there is only one car allowed per adult living at the premises and it must be in working/legal condition. You're right about people collecting junk around here haha

I have that as well as a few other common sense rules - like don't throw cigarette butts on the ground, grills/BBQs can't be used inside, etc -- the lease is a bit lengthy, but I feel having some of these stated is required. 

Similar to the "no parking on the lawn" I added "no driving on the lawn" period, because the current tenant (who will be on my lease starting May 1st) doesn't seem to think it's a problem to repeatedly turn around on a wet section of lawn and made it a ridiculous rutty mud mess! Just because it's common sense doesn't mean it's common! I'm going to buy sticks/tape or markers to block it from driving, but you just look at it and have to shake your head like "why? why do you think that is okay to do??"

@Eric V. ha - it's illegal for landlords to charge late fees in Vermont. I have the lease written so that rent paid by the first is X-amount, but after the first it's X-amount + $50 and call it a prompt payment discount.  I had something about lock changes but will alter it some to be more clear, and VT requires 48hr notice of entry. Fun state. 

Hi All,

I'm reviewing my lease, and I'm wondering if there's any additions in people's leases that they consider must haves, or perhaps additions to leases after a bad tenant experiences? What is something you'd wish you'd put in your lease to prevent issues? Or simply additions that allow you to highlight some part of the lease, send to tenant as proof of "yeah, you signed and agreed not to do that."

Anyone that is interested in a house purchase or real estate in general is defintiely looking at CL. I check Zillow and CL daily for real estate that grabs my interest. Where is the property located? I agree with @Josh Dillingham - if there's no bites or interest and it's on Zillow, it's either significantly over priced, or just not in an area people are interested in buying in.

Look up the VHFA program, it can provide a "second mortgage" for down payment assistance. There is a list of 15 or so banks in VT that are involved with it. I've never used it, but if you're looking for primary residency (can't be used with non-owner occupying/investments) they should be able to assist you.

https://www.biggerpockets.com/renewsblog/forget-br...

The search bar on this website is terrible, and doesn't make finding things easy - I literally put in the author and BARRRR and it still couldn't find what I was looking for --- I googled the same thing, and it was 2nd on the list.

This may be what you were talking about, if not, still good info. 

The numbers sound good to me. What are the actual taxes and insurance per month - I only ask because I'm purchasing a 130k duplex with right around 20% down, but my payment is around 840/mo for PITI. You are buying a cheaper property with more down, I just assume your costs for PITI would be lower than mine. My insurance is around 800/yr and taxes are 2800/yr with 4.25% on a 30yr loan.

Just to add my two cents - I work in a water chemistry lab...

Although it is possible this is from acidic water/copper piping, it seems very unlikely. I literally test water for a living and have never seen water actually be discolored from corrosive water/copper. Ever. That said, you won't know anything until you have it tested. It's recommended that private wells are tested every 3-5 years.

Call your state health lab (I don't know if this is them- but they should be able to point you in the right direction https://dgs.virginia.gov/division-of-consolidated-... ) 

They will tell you what you need to collect a sample, you can't just show up with a mason jar. They have tests generally directed towards homeowners/personal wells -- usually includes pH, alkalinity/hardness, conductivity, nitrate/nitrite, copper, lead, manganese (can cause staining also) and a few other things. 

I would probably take two samples (for lead and copper specifically): one sample to be taken as soon as you turn on the faucet, and one after it has been running for 5 minutes (cold water only) - this lets you know if you have lead/copper leaching from your pipes, and that it isn't from the water itself - if that's the case, they'll just have to run the water before using it. I would also recommend getting a bacteria test done if it's a private well (E. coli and total coliform). You can contact private water testing laboratories also -- talk to local home inspectors, they'll have labs that they use.

If it is public water - contact the municipality directly and they should be able to help you. 

Tests will be around 100-200 bucks I think (around here anyway).