Dale Cosack

You don’t have to be a landlord to know what C.Y.A. stands for. “Cover Your A --” is the acronym’s long form and you can be sure that politicians, lawyers and bankers everywhere know what it means, landlords must, too. If you are an experienced real estate investor, you already know this. If you are a beginner, or someone who has become an “accidental” landlord because you’re renting what used to be your primary residence, then it’s best to learn how to CYA by reading about it, rather than from experience.

Last month this issue became paramount for us. My first home, a small 2 bedroom townhome in Manayunk, which has been a rental for 5 years, caught fire. Thankfully nobody was hurt. However, the house suffered not only from the fire & smoke damage, but the water damage, the breaking of windows and doors have all taken a toll. Thankfully we took the time to make sure we had the right insurance coverage so we could C.Y.A ourselves in this situation. It’s an issue I discuss with all investors especially the “accidental” landlords.

Not all insurance is the same and it is important to review your needs with an insurance agent who understands rental properties. Sure there’s the cost of rehabbing the house, but what about the loss of income over the months the house sits vacant? Thankfully there is coverage for that.

Another factor of C.Y.A. is knowing when to ask for help. I know a lot about investment properties, love running the numbers, and figuring out the potential R.O.I. What I don’t know anything about is how insurance companies handle claims. Thankfully there are Public Adjusters who deal with this on a daily basis. If you don’t know what you’re doing find someone who does. We met with a Public Adjuster to see what they could do for us and I’m glad we did. They explained that fire & smoke causes more damage than you see. It’s not just about cleaning up, but making sure there’s no hidden damage that can rear its ugly head after you have settled your claim. One example they gave was that the walls can be washed with chemicals and then be ready to paint, but another concern is whether the insulation been effected by the smoke. They told me a story about a house that had been cleaned up after a fire, but months later when the owners turned on the heat the house wreaked of smoke. After the owners had already settled their claim and spent all of the money to rehab the house they found out they missed a crucial issue and the only way to fix it was to tear down the walls and insulation, then start over. What a nightmare! I’m glad there are companies out there that specialize in this so they can take the weight off our shoulders.

Another C.Y.A. technique which covers more than insurance claims is how your lease is written. Make sure you know who is responsible for what and that it is spelled out in your lease. In Philadelphia they give out fines if your trash cans are left out too long, or if there’s too much debris on the sidewalk. It would be a shame to lose money each month because your tenants aren’t adhering to the rules. Make sure you spell it out in the lease. Who’s responsible for mowing the lawn, shoveling the sidewalk, pests, minor repairs etc. Make sure you think it through so you know what you are agreeing to. This comes back to the fire issue again with who is responsible for the tenant’s possessions. I don’t want to guess how much coverage they need so make sure it’s written in the lease that they are responsible for their items and must have renter’s insurance.

There’s a lot to think about when becoming a landlord and you must protect yourself. It’s an issue I could go on and on about, but have run out of room. If you have questions about protecting yourself through LLC’s, or anything regarding rental properties don’t hesitate to ask.

Homes for Sale in Newtown Grant , Newtown, PA

Homes Sold in Newtown Grant in 2011

Newtown Grant is located off of 413 on your way out of Newtownjust before hitting Wrightstown and the neighborhood expands the whole way across Eagle Rd. at the other end. Growing up in Newtown it seemed your friends either lived here, or in Village Shires. The neighborhood offers many ammenities including a pool, clubhouse, basketball courts, a baseball field, tennis courts and a preschool (though not part of the association fee).

The association fee for Society Place is approximately $155 per month and includes Common Area Maintenance, Exterior Building Maintenance, Lawn Maintenance, Snow Removal, Trash Removal, Swim Fee, Tennis Court, Club House & PlayGround.

The Newtown Grant association fee for the townhomes

is approximately between $95 - $139 per quarter and includes Common Area Maintenance, Club House, Play Ground, but there is an Extra Pool Fee.

Newtown Grant Association Website.

Newtown Elementary, Newtown Middle School, & Council Rock North High School serve the Newtown Grant community. Map of Newtown Grant.

To receieve your free "Insiders Guide To Buying or Selling A Home In Bucks County" click here on the Contact Tab and fill out your info. letting me know if you are interested in Buying or Selling and I will pop it in the mail to you at No Cost and No Obligation to you.

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All information deemed reliable but not guaranteed

Recently, my teammate Susan Salvato helped a past client in the Mt. Eyre neighborhood of Washington Crossing sell her beautiful home. Here's what she had to say about Susan and The Cosack Team.

"I first met Susan Salvato in 2004 while embarking upon the process of finding a house in Bucks County. She patiently and diligently worked with me for over three years until I found my “dream home.” I was so happy with the experience that when it came to sell my house last year, I knew instantly that Susan would be the person for the job. Given her market expertise, professionalism, and attention to detail, it was no surprise that we managed to find a buyer for the house in a matter of weeks. Moreover, she helped to make the entire selling process as smooth and stress-free as possible, researching questions and addressing issues for me when I couldn’t be at the house, and proactively communicating every development along the way – not a moment went by when I was “out of the loop.” Last but not least, it was always good to know that the entire Cosack Team was working together, ensuring that there were never any gaps in coverage. I really can’t say enough positive words about Susan Salvato and the Cosack Team, and would certainly turn to them again should I have another opportunity to buy a house in Bucks County."

If you are looking to buy or sell your home in Bucks County give us a call to see what we can do for you.

One of the great things about Bucks County is it's proximity to major cities. This works both ways. I currently have clients from New York City who grew up in Bucks County and are looking for a home in a bucolic setting to get away on the weekends. I've also had clients who actually commute to NYC everyday for work. This past weekend my wife & I were looking for some excitement so we dropped the kids off at Nanny & PopPops in Newtown & hopped on the train from Trenton & were in NYC before lunch!

It was awesome! We jumped on the subway, but at our first transfer we realized all of the trains weren't running smoothly and we had to backtrack and get on another train to go forward again so we decided to get off at W. 4th St. and decided to walk to my brothers place in the Lower East Side. When we got out of the subway we were right across the street from Galanga a Thai Restaurant we actually had reservations for that night. We walked through Washington Square Park where this guy was playing his piano which was a cool sight to see.

We were starving at this point, but just two doors down from my brothers place is this great Sushi Restaraunt Jin. During happy hour they offer $3 plates and brews which was phenomenal. I ordered the pork dumplings, alaska roll, spicy crunchy crab roll, sashimi, edamame & a couple Stella Artois. We shared the sashimi & edamame, but Juli still couldn't finish her meal. Great place, great price, fun place to start our day!

Then we wandered around the Lower East Side with some coffee and popping in and out of different bars. One great bar The Red Lion was great. I was born and spent a few early years in England and my grandparents hang out was The Red Lion. We step into this place and the bartender and a couple of guys at the bar are all watching soccer (football as they say) and rugby and they all hail from England & Ireland. We caught a couple of more Stellas while listening to two guys cover some classic rock ballads which made for an even better atmosphere.

We wandered around some more looking in galleries and then headed back to my brothers so we could stop by the new Top Hops Beer Shop. I know I'm sounding a bit like an alcoholic here with all the bars, but with 3 boys at home we don't get out to often and NYC had too much to offer. I picked up a bottle of Allagash IPA. One of the smoothest IPA's I've ever had.

Juli who is practically allergic to everything including wheat and lactose was excited because just around the corner from Top Hops Beer Shop is Baby Cakes a vegan, gluten & dairy free cupcake shop which she said was delicious.

Then we headed out for dinner at Galanga! I had the Crying Tiger which once I realized I needed to toss it to get the sauce at the bottom to coat everything was really good. Juli had shrimp wrapped in rice wraps that were fried. Enjoyed the atmosphere and the food.

Then we headed back out for the night. We met up with my brother and basically followed him as he showed us some local bars that at this point I can't remember the names of. What I do remember is stopping for a late night snack at Crif Dogs. Wow! I could have tried every type of hot dog they offered. It was delicious and many things I never would have thought topping a hot dog with.

The next morning we met up with some of Juli's friends for brunch at Bondi Road. Another great place! For either $20 or $25 depending on the meal you chose you got a great breakfast and 5 drinks. I ordered The Heart Stopper which was steak, poached eggs, hollandaise sauce & fries which really helped after a long night. They made some great bloody maries too!

All in all it was a great weekend for us! It's a nice perk living in Bucks County. You can get to Philadelphia in 45 minutes and New York City in 90. Bucks County is also great for New Yorkers who want to escape to a country setting for a weekend. My clients just found a great house in Washington Crossing and are looking forward to enjoying some time away from NYC in our great area.

If you are thinking about looking for homes in our area learn all about our Newtopias and what each town has to offer. If you are interested in less maintenance and want to learn more about condos or townhomes checkout the Bucks Condo King site for all you will ever need to know about condos or townhomes. You can search for Homes For Sale from both sites. Of course, if you have any questions about a home, neighborhood, or real estate in general please don't hesitate to ask. That's what we are here for!

All puictures were taken by my wife Juli Cosack. Checkout all of her artwork at http://www.julitoons.com/Site/Julitoons.com.html

In 2011, 11 Homes Sold in Tapestry in Holland, PA & currently there are 5 Homes For Sale in Tapestry.

Tapestry is a fantastic neighborhood (I may be a bit biasedWhy I Chose To Live In Tapestry in Holland PA, A Bucks County Realtor Tells His Story) located off of Middle Holland Rd. across from the Rolling Hills Elementary School in Hollandin Northampton, PA. Calton Homes began building the first phase in the early to mid 1980's which was called Penn's Court.

The second phase was built in the mid to late 1980's and was called Tapestry which is now the name used for the entire development and the master association uses the name Penns Court. The neighborhood is a mix of single family homes, townhomes, and condos.

There are a few different styles of townhomes in Tapestry. There are the colonial style townhomes located in cul de sacs around a parking lot. These homes offer 3 bedrooms, either 1 1/2 or 2 1/2 baths, and some include basements, and possibly a balcony off of the master bedroom. They range in square feet from approximately 1,530 sq. ft. to 1,731 sq. ft.

There are also townhomes that have more of a Spanish flair to them located more in the center of the development. These townhomes offer 3 - 4 bedrooms, 1 1/2 to 2 1/2 baths, 2 balconies (one off of the master and the other off of the 2nd bedroom) and some include a basement as well. They range in size from approximately 1,469 sq. ft. - 1,842 sq. ft.

Another section of Tapestry offers colonial style townhomes with garages and off street parking. These homes range from 2 - 3 bedrooms all with 2 1/2 baths and a few with basements. They range from approximately 1,664 sq. ft. to 1,856 sq. ft.

There are also a few different style of condos in Tapestry. The smallest are the 1 bedroom 1 bath condos that are approximately 900 sq. ft. Next, are the 2 bedroom 2 bath condos that are approximately 1,064 sq. ft. Some of the second floor condos also offer a large loft. Both the 1 and 2 bedroom condos have parking lots.

There are also some condos on Independence Dr. that offer garages and/or off street parking and they are approximately 1,156 sq. ft. with have 2 bedroom and 2 baths.

There are a few associations in Tapestry. Everyone pays into the master association, Penns Court, which costs approximately $190 per quarter and pays for Snow Removal, Trash Removal, Swim Fee, Tennis Court, Club House & Play Ground. The colonial and Spanish style townhomes only pay this association fee.

The colonial style townhomes that offer garages and off street parking pay a bit more approximately $215 per month as their association fee includes all lawn care, snow removal, tennis courts, swimming pool, playground and club house.

The condos that do NOT offer off street parking, or garages pay approximately $101 per month to the condo association and $190 per quarter to Penns Court for an average of approximately $165 per month.

The condos that do have garages and/or off street parking pay approximately $166 per month which covers all lawn care, snow removal, tennis courts, swimming pool, playground and clubhouse.

The associations do charge a one time capitol contribution due from the buyer at settlement. The Penns Courts fee is approximately $250 and the condo association fee is approximately $400.

Rolling Hills Elementary, Holland Middle School, & Council Rock High School Southserve the Tapestry Community. Map of Tapestry

All information deemed reliable but not guaranteed
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