NRVLiving - Real Estate. Simplified.

New River Valley Renters - This Post Could Save You Thousands of Dollars!

Scams abound, and one I just read about really hit home to me - wanted to share it here.

We have a lot of renters here in the New River Valley, particularly centered around Blacksburg (Virginia Tech) and Radford (Radford University), but in many other areas of the Valley as well.  The summer is a hot season for renters, as people move in and out around the various school systems and universities.  That hot rental market is also a great place for scam artists to move and "work", as evidenced by this story by Maggie Dokic in Miami FL.

I plan on sending this post to some local law enforcement to see if they have any updates they can provide on how renters can protect themselves, but Maggie makes a couple of good points.

• Check property records online to verify the person signing the lease is truly the owner, or is authorized to sign leases on behalf of the owner.  Each County has its own record system, here are a few:
  
  - Montgomery County (including Blacksburg & Christiansburg records)
  - City of Radford
  - Giles County
  
  
• Be sure to know exactly where the checks will be mailed, so there's a physical address to track.
• If they don't verify your credit, be very WARY!  If they want first and last months rent in cash, RUN!

I'd add that working with a property manager is a must for making sure a property is above board, and I'm happy to hook you up with some of the best - just email me for a list.  Most landlords in the New River Valley are above board and honest, but that's not to say there aren't unscrupulous folks out there as well.  Hopefully some of these tips will help renters in the New River Valley protect themselves a little more, and not experience what this poor family in Miami is up against.

Updated July 1 11:00am - received an email from State Farm agent Eric Johnsen this morning as a follow-up to this post, wanted to share it in its entirety.  He wrote:  "with two large universities we do have a number of student renters.  That's one of the nice things about being a landlord here, we have a large pool to advertise rental properties to.  However, many students are either forced or conned into buying renters insurance.  I am an insurance agent, obviously, and I have something to say about this.  Some property managers require renters insurance, and if that's the case it's hard for the renter to overcome.  Some insurance agents sell it, and this is where we can run into a problem with unscrupulous business practices.

If the student lives with their parents when they are NOT attending school, and the parents are homeowners, it is very unlikely that the stdent needs additional coverage.  Their personal property is covered under their parents' policy, subject to the policy deductible.  The liability coverage would extend from the parents' policy as well.  If the student had to evacuate and live elsewhere (such as when Katrina hit New Orleans and students were scattered), the policy wouldn't extend for THAT additional living expense. 

Insurance agents who are selling this policy to those students who already have coverage is a bit questionable.  If that person is no longer a student, out of their own living the big life now, THEN it's time ofr renters insurance.  Otherwise, as long as they fit under mom and dad's umbrella as a permanent resident of the household than they should be covered under their parents' homeowners policy."

If you enjoyed this post, why not leave a comment and subscribe via RSS or email here to be sure you don't miss the next post?

Do You Have Cooties?

Regardless of where you stand on the BURG vs. First & Main debate going on in Blacksburg, I thought a post on a local blog, "Think, Christiansburg!", did a good job of looking at a broader picture - what are we doing to our region when we consider "development". 

Do I agree with every point in the article?  No, but  the point made in the third paragraph hits the nail on the head - empty storefronts add no quality or value to an area.  Regardless, our elected leaders seem to be negligent at helping to find creative ways to combat this blight.  What will it take?  Maybe the name of the blog should be "Think, New River Valley!"

Here's the text in its entirety:

Dialog published in local newspapers in May 2007 about the proposed development on South Main should be reframed beyond SCATs or Cooties because it affects a larger area than just one community in Montgomery County.

This is more than shifting the local portion of state sales tax within this or that town, or business taxes collected in one town instead of another.  If something is diminished within the NRV, there’s no cause for celebration.

This is more than businesses changing addresses from existing buildings and moving into new buildings. Having empty buildings in our community doesn’t add quality or value.

Do you believe any major chain will maintain two stores a few miles apart, whether Wal-Mart or Books-A-Million?  Look where our area’s original “mart” was located, where Goody’s was located before its last move.  A grocer on South Main recently impacted adjacent tenants due to an anticipated expansion.  Those plans were on hold for months, so once could expect yet another address change was considered. 

How many partially occupied shopping centers do we need within Montgomery County?  How many acres of barren, paved parking lots do we want?   How many miles of sidewalks or bike trails do these unused acres of pavement represent? 

How badly do we want any traffic congestion to be a routine part of getting somewhere, or creating new bottlenecks within our community?   Do we really want town governments and county supervisors fighting over the few dollars available for upgrades to local roads and major traffic arteries?  Or would we rather they work together to get many long-talked about yet unfunded improvements completed?

Is this about Smart Growth, or repackaging sprawl while laying the ground-work for future blight?

No matter how many “anchor” (translation:  big box retailers) stores arrive in Blacksburg or depart from Christiansburg, employees working at these businesses will earn service-sector wages.  It may even cost some employees more to get to work, since the locality with public transportation has the highest housing costs.  This may translate into more cars and congestion in Blacksburg, but where’s the value in that?

The South Main concept was introduced as being “pedestrian friendly” yet that element is now absent, so living where you can walk to work or shop is no longer a factor in the discussion.  No higher paying or new jobs, just a shift on where you may earn or spend wages.

No matter which “anchor” stores arrive, individuals won’t automatically have more money to spend. The presence of nationally recognized chain stores doesn’t equate to a rise in personal income, a decrease in real estate taxes or enhanced government services -- they change  shopping destinations or whether a shopping trip is 5 or 15 minutes away (when people can’t or don’t use public transportation).    Folks, we are not talking about South Dakota here with a 50-mile one-way commute for a loaf of bread.

Why not discuss how proposed developments affect county and both towns’ revenues? Where is economic development in this dialog on creating new businesses, or expanding and sustaining existing ones?  Why recruit fickle chain-stores that leave communities littered with vacant buildings?  These points should be worthy of action and passion, too.

Where is the dialog about identifying how sales, meals or other use-taxes allowed by Dillon rule could be increased, rather than shifted from one locality to another?   Why should a public entity’s business operations receive an advantage over private business owners?  As one example, why must private restaurateurs collect taxes from customers when a public institution is selling “more than 5 million meals each year”?  What would the meals tax revenues be for Blacksburg if ALL diners were taxed?

A redevelopment of one town’s southern gateway creating new sales or tax collection points should stimulate residents to reflect on impacts “anchors” and “chains” represent.  The rising tide theory (if you build it here, they will come from there) isn’t an assurance of real, sustainable community growth (but it’s a pretty sure bet developers passing through and remote big-box corporations will profit).  Let’s bring these points into the dialog instead of creating disharmony about shared values and common wants.

If another acronym is needed as part of this dialog, how about “Corporate Opportunists Overwhelming Towns, Instead of Economic Sustainment”?   Community members should be looking at development from a panoramic perspective, not through a straw.

Could this specific project bring much needed revenue to Blacksburg?  Yes.  Would existing businesses vacate a current location for a new one? Possibly.  Are living wage jobs being added to the local economy? No.

Remember:  convenience isn’t priceless, many people try to get a tentacle attached to your taxes or wallet, and neighbors watch out for each other.

If you enjoyed this post, why not leave a comment and subscribe via RSS or email here to be sure you don't miss the next post?

A Virtual Picture Of Floyd, VA

This post popped up on my Google Alerts this morning, and I'm reposting it here because I think it's a good, factual recollection of what to expect when you visit the Town of Floyd.  So often you hear people talk about Floyd in terms of "eclectic", "artsy", or "unique", which is accurate, in a sense, but this post delves into what makes Floyd so unique - the names, the artistic mediums, the reasons for why Floyd is so distinctly unique.  I just thought it was a really good virtual picture, and wanted to share.