It seems like we will be losing tenants from at least 3 of our 7 apartments, and maybe as many as 5! We are happy about 2 of the tenants who are definitely leaving. One has struggled to pay the rent on and off from the beginning. The second is the unit we are trying to evict. Unfortunately the other three are all fabulous tenants. One family has lived in their unit for over 4 years. We will certainly miss them, and Hubby will be very busy trying to fill vacancies as they come up. Luckily things seem like they will be spread out a bit, so we won't have 5 empty units at one time.
One of the problems with move-outs and showing is that you have almost the same problems as showing a house, but none of the control. Hubby showed one of the apartments tonight, but the woman who was interested was really turned off by the mess, from both the interior of that unit, and by another tenant who has junk all over the place. We may need to wait until the tenant is completely out, and force the other tenants to clean up their act before even trying to show the place. This definitely means lost rent as the place sits vacant.
The renovations are continuing on the flipper and we are still waiting to close on the 2nd flipper (although the realtor says he has a buyer for the 2nd one. All we have to do is get thru the buy and renovation!). Hubby is continuing to work with folks on craigslist about the wheel chair ramp and I finally finished up with all the eBay stuff. Hubby is enjoying working on the property half days. He may put in some "overtime" this weekend to paint the basement!
No comments:
Post a Comment