"Realty Bites"

Advice, announcements and humor from the Real Estate trenches!

We have moved!

After years at the corner of Sacramento and Oxford, we are now at:

1644 Massachusetts Avenue

Please visit us at our new location!

Carbon Monoxide Detector Law

On March 31, 2006 a new state law went into effect requiring homeowners to install carbon monoxide detectors in every residential unit and property in Massachusetts. Understandably, there seems to be a great deal of confusion on the ideal placement of these detectors, since they shouldn't be too close to carbon monoxidee producing sources, such as a gas stove, water heater, fireplace, etc. I have been personally told by a Fireman that I should install a minimum of one detector on each floor of a property, (including the basement and attic), with a detector needing to be installed within 10 feet of each bedroom and not within 20 feet of a kitchen stove. While this information is something that I personally received and followed, it would be wise to contact your local fire department on what they would recommend.

Prospective Tenants

From a colleague: As Property Manager of single-family residences, I was showing a unit to prospective tenants and asking the usual questions: "Professionally employed?" "We're a military family," the wife answered. "Children?" "Yes, nine and twelve," she told me proudly. "Animals?" "Oh, no," she said earnestly. "They're very well behaved."

Interest on Security Deposits

Did you know that a landlord is not obligated to pay interest on a security deposit if the tenant has not resided on the premises for at least one year? Did you know that a tenant may lawfully deduct this interest from the next rent payment if the landlord fails to pay this interest within thirty days of the anniversary date of the executed lease?

Interest on a Last Month Rent

Interest of 5% must be paid to the tenant either on the anniversary date of the tenancy or on a pro-rata basis, even if the tenancy ends before one year.

Deductions From Security Deposit

Upon termination of the tenancy, a Landlord must return the security deposit or adjusted balance within thirty (30) days of the tenant's vacating the apartment, and deductions can only be made for unpaid rent not lawfully withheld, or any "reasonable" amount necessary to repair damages caused by the tenant or their pets or guests.

If a landlord deducts for any damages, a tenant must be provided with a statement "sworn to under the pains and penalties of perjury" and which itemize the damages and amounts that have been deducted, along with documentation of the actual repairs i.e paid invoices.

Note: The normal wear and tear in an apartment cannot be a deductible item of damage, and while tax increases can be passed on to tenants, vis-a-vis a Tax Escalation Clause, this policy is not widely practiced.

What is an Appraiser?

An appraiser is one who compiles and analyzes voluminous data of problematical accuracy from sources of dubious veracity and derives therefrom a numerical quantification of unquestionable necessity, analogous to a nebelous and euphemistic concept representational of value commensurate with ambient configurations of the open market and promulgates thereby a precise written declamation which delineates his observation, deliberations and conclusions all done while he feigns absolute ignorance of the avericious machinations of Buyers, Sellers, Brokers and Lenders, compensated only by that penurious stipend known as the professional fee. (Now, aren't you glad you asked?)

Property Lines

If you want to know exactly where the property line is, just watch the neighbor cut the grass.