This is a sponsored post from Eve Thompson of Reston Real Estate. For a more complete picture of home sales in your neighborhood, contact her on Reston Real Estate.
I had a great real estate question this week. A friend who lives in a Lake Anne neighborhood wrote to say that the number of rentals had increased in her cluster; she was worried about the impact of that on the community and property values. She wanted to know “…what, if anything, could be done about it.” A quick search of her cluster and determined that in her cluster were 27.5% absentee owners.
27.5% investor ownership is probably something that would be noticed in a smaller neighborhood. You might see more a little more transience with people coming and going and it can, not always, leave things looking a little less kept-up.
In condominiums lenders look at investor ownership levels as a part of assessing risk of lending in a particular condominium. If a condominium gets above 35% investor ownership some banks start looking for higher down payments from buyers and if a condominium gets to 50% investor ownership many banks will pass on lending all together.
So what can a townhouse cluster do to minimize the impact of higher investor ratios? Here are the recommendations I made to my friend who originally posed the question.
Push for strong covenants enforcement because this is where real damage can be done to a neighborhood with high investor ratios. Absentee owners can have an out of sight out of mind attitude about maintenance and tenants are rarely responsible for more than basic yard care.
Work with your cluster board to be tough about exterior repairs and maintenance. Form a group that looks for issues, don’t let absentee owners slide on violations. They are profiting from the rental of property and should shoulder their share of the burden of maintenance to keep the neighborhood as whole looking good.
This can be a great opportunity to keep a helpful eye on older owners who may not be as able to do some of heavy lifting required for exterior maintenance. Having a group of “helpers” that pitch in where needed will keep the neighborhood looking good and provide an excuse to check in on neighbors that might need a little assistance.
And finally, remember that tenants are also your neighbors — they don’t have full control of the property they occupy, but the more engaged everyone is in the well-being of the community the better.
It’s not uncommon, to have the desire to give back to your local community, but no idea who needs help, or where to start.
This Saturday, local residents can stop by the Civic Engagement Fair at South Lakes High School in Reston to meet organizations face to face, and discover different ways to make a difference in the community.
Representatives from 25 different community and civic organizations will be on hand to meet locals interested in giving back through advocacy, volunteering and more.
The event is sponsored by Virginia Delegate Ken Plum, and will take place from 9 a.m. to noon at South Lakes High, 11400 South Lakes Dr.
You have just a little over a week to get that bike all fixed up and ready, because Bike To Work Day is coming up around the D.C. Metro area next Friday, May 18.
More than 100 pit stops are planned from 6:30 to 9:30 a.m. throughout the area, including one in Reston and one in nearby Herndon.
The Reston pit stop will be held at the Plaza at the Wiehle-Reston East Metro station, at 1862 Wiehle Avenue.
For those who take the W&OD Trail, a pit stop is planned in Herndon right by the trail entrance at the corner of Lynn and Elden streets.
The first 20,000 people who register ahead of time can pick up a free Bike To Work Day 2018 t-shirt at one of the pit stops, as well as enter drawings for new bicycles and other prizes.
Nervous about riding your bike during the busy rush hour by yourself? Anyone is welcome to join a bicycle convoy to ride together with others going in the same direction as you. A list of local convoys is available online, and there is no need to sign up in advance. You can join up with a convoy at any point along their path.
You can also find individual “bike buddies” through a number of local cycling groups.
For more information, visit the Bike To Work Day Metro D.C. website, or for questions about the Reston pit stop, call or email Ashleigh from the Reston Association at [email protected] or 703-435-6577.
File Photo: Bike To Work Day 2017 in Reston
It’s been another relatively quiet week around Reston, with no arrests or stolen vehicles reported.
Police reported the following thefts around Reston between Tuesday, May 1 and Monday, May 7:
1800 block of Cameron Glen Drive, cell phone from business
2000 block of Capstone Circle, license plate from vehicle
500 block of Nalls Dairy Court, bag from vehicle
1600 block of Reston Parkway, leaf blower from vehicle
800 block of Seneca Road, wallet from residence
2300 block of Soapstone Drive, wallet from business
12100 block of Sunset Hills Road, cell phone from business
10500 block of Leesburg Pike, cell phone from business
2300 block of Colts Neck Road, property from business
11800 block of Spectrum Center, liquor from business
Anyone with information about any crimes reported by FCPD should call 703-691-2131 or 1-866-411-TIPS(8477), or text “TIP187” plus the message to CRIMES(274637).
This letter was submitted by members of the Reston Citizens Association. It does not reflect the opinions of Reston Now. We publish article and opinion contributions of specific interest to the Reston community. Contributions may be edited for length or content.
If you live in Reston, you surely know that it is a world-renowned master-planned community. Back in 1967, when people realized there would be no mayor or city council for our community, concerned citizens created the Reston Community Association (RCA) to represent its citizens and to monitor and encourage responsible development. Now called the Reston Citizens Association, RCA is still the only community-wide, non-partisan, and action-oriented organization in which everyone that lives, works and plays in Reston has a voice.
Want to take an active role in the future of Reston? Run for a seat on the RCA board!
There are eight seats available in the 2018 elections. To run for a director seat, you must live in Small Tax District 5, be a Reston resident 18 years or older, and must live in the district which you plan to represent. Elections will be held from June 7 to June 22 for four district seats and four at-large seats for its Board of Directors.
As a member of the RCA Board of Directors, you will interact with the community on the issues that impact them, meet with county and other local officials, and report on public meetings. You will collect information, provide analysis and, based upon feedback received from the public, inform various local organizations and news outlets directly about public expectations for outcomes on issues that affect Reston.
Logo courtesy of Reston Citizens Association
Every weekday, we highlight select deals and events in Reston, with help from Tim’s Reston Directory. Some require a coupon or have more instructions, so click the link for details and any additional requirements. Visit www.TIMS.US for each day’s entire list.
- Boston Market – BOGO Free Lunch
- Chipotle – BOGO Free for teachers 3pm-close
- Honeybaked Ham – $39.99 Bone In Half Ham
- Ledo Pizza – $6 Spaghetti or Fettuccini Alfredo
- MOD Pizza – 50% off for pizza or salad for teachers
- Mon Ami Gabi – Burger Tuesdays 5-10pm
- Not Your Average Joe’s – $12.99 Burger, Fries, Beer
- Sweet Frog – 10% off for Teachers
- Wendy’s – National Adoption Night – 15% donated 5-8pm
Reston Beats The National Average For Parks – The Trust For Public Land recently released a study of how many Americans live within 10 walking minutes of a park, and Reston blew the national average out of the water. Reston is home to 73 parks with a total of 1,278 acres of park land–the equivalent of 975 football fields–and according to the study, 92 percent of all Reston residents live within 10 minutes’ walking distance of a park, compared to only 55 percent of Americans nationwide. The study suggests that usage of a park increases by 400 percent when a family lives inside that 10-minute distance. (ParkServe)
Lake Anne Elementary Wins Outdoor Learning Grant – Lake Anne Elementary in Reston has been awarded more than $4,000 in grants to fund student-driven projects to restore, expand and protect the outdoor learning garden on its campus. The grant money is being provided by Eco-Rise. The school district said priorities for the grant money will be restoring raised beds, providing soil for vegetable beds, creating a garden path, and purchasing garden tools. The Lake Anne students won a competition for the grant money by filming videos explaining what they would like to do with the money if they won. (Fairfax County Public Schools)
Reston Runner Describes Conquering Boston Marathon in Freezing Cold, Wind and Rain – Kim Isler, an employee at Reston’s Potomac River Running store, recently wrote about her experience taking on the Boston Marathon in 20- to 30-degree temperatures, with fierce winds and driving rain–the coldest on record for the race in nearly 30 years. While she admits she was at first happy to hear temps would be so low, so she wouldn’t overheat while running, she said the biting cold winds and icy rain in her face proved to be a bigger obstacle than she had counted on. Nevertheless, as runner after runner dropped out of the race due to the harsh conditions, Isler describes how she persevered and finished the race. (Potomac River Running Blog)
File Photo: Falcon Ridge Run