If your Client/Property Owners are VACATING their Property * Better Check to See if it Will CO$T Them~!

By
Real Estate Broker/Owner with Gibson Management Group, Ltd.

I rented a nice townhouse to a doctor last year who indicated she would not  be buying for a while because of an experience she had while selling her home in Greenville, SC.  Since I was born in Greenville when it was * The Textile Center of the World * I questioned her what had happened.  She recounted how her real estate taxes immediately shot up when she took a new job and left the property vacant while attempting to sell it.

Areas of the country as well as localities are struggling with the costs of abandoned and derelict properties and are attempting to mitigate the cost and maintain property values by legislating huge FINES or TAX INCREASES.

http://vacantproperties.org/who/campaign.html

I was pleased to learn that there is a National Vacant Properties Campaign to assist areas who are attempting to address these issues.  While I would champion renting the properties whenever possible in order to maintain them AND allow property owners to recoup some of their carrying costs, acknowledging that abandoned and derelict properties are a concern is a GOOD step in the RIGHT direction.

Real estate agents should be aware of the options available to areas so that costly legislation is not the ONLY option being considered for this issue.

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Rainmaker
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Mike Saunders
Lanier Partners - Athens, GA

Wallace - there are a lot of municipalities and other local governments imposing regulations on vacant properties. One county here in GA is going to impose a $1000/day fine on the owners of vacant properties that do not maintain to a set of (unfortunately non-existent currently) standards.

Aug 02, 2010 05:26 PM #1
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Rainmaker
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Wallace S. Gibson, CPM

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