Well, I was just getting ready to announce that we had 6 out of 6 apartments fully paid this month (1 is still empty but more on that later), when Hubby told me that one of our tenants had bounced a check. This is a very expensive problem for the tenant, because now they owe a $100 fine. $50 for the bounced check, and $50 because the rent will be late this month!
On the good news front the empty apartment is ready to go and Hubby has already started receiving calls for it, although he hasn't advertised at all yet! One tip that some might find useful, he give existing tenants a "finder's fee" of $50 if the apartment is eventually rented to someone they recommend.
No activity on the first flipper (Cherry Street) this weekend. We were hoping that it would get some showing because it is new to the market. Keeping our fingers crossed for a quick sale!
Showing posts with label preparing for new tenant. Show all posts
Showing posts with label preparing for new tenant. Show all posts
Sunday, July 15, 2012
Tuesday, July 10, 2012
Finally listed!
Flipper is finally listed. Looks fantastic! Here is the listing with some great pictures of the property:
http://www.remax.com/property/108472628-60440123/1322-CHERRY-ST-Pottstown-PA-19464/
Bought all of the materials for the 2nd place yesterday morning. Work has already started and because it's a townhouse there is not much to do on the exterior (we needed to fix a drain pipe - already done - and the patio might need to be relaid because it slopes too much toward the house. Doing a minor kitchen remodel (new counter top, new floor, maybe new appliances, but keeping the cabinets). Need a few interior doors, but the exterior ones are already fixed and/or replace. New furnace and AC, of course (that seems to be one of our trademarks - and helps the resell value tremendously!).
Not much news on the rentals this month - definitely a good thing! - have received rents for 5.5 out of the 6 units that are occupied. Expecting the 2nd half of that last one on Friday this week (keep fingers crossed!). Need to get new tenants into the place that ended up being evicted, but really happy to be rid of the old ones. Almost giving up hope of ever seeing any of the money we are owed on that one. The place is clean already and we may move the stove from the new flipper to this apartment, but otherwise it is good to go. Hubby is confident it will be occupied by August 1st. It does feel good to have the rental situation a litter calmer, at least for now.
http://www.remax.com/property/108472628-60440123/1322-CHERRY-ST-Pottstown-PA-19464/
Bought all of the materials for the 2nd place yesterday morning. Work has already started and because it's a townhouse there is not much to do on the exterior (we needed to fix a drain pipe - already done - and the patio might need to be relaid because it slopes too much toward the house. Doing a minor kitchen remodel (new counter top, new floor, maybe new appliances, but keeping the cabinets). Need a few interior doors, but the exterior ones are already fixed and/or replace. New furnace and AC, of course (that seems to be one of our trademarks - and helps the resell value tremendously!).
Not much news on the rentals this month - definitely a good thing! - have received rents for 5.5 out of the 6 units that are occupied. Expecting the 2nd half of that last one on Friday this week (keep fingers crossed!). Need to get new tenants into the place that ended up being evicted, but really happy to be rid of the old ones. Almost giving up hope of ever seeing any of the money we are owed on that one. The place is clean already and we may move the stove from the new flipper to this apartment, but otherwise it is good to go. Hubby is confident it will be occupied by August 1st. It does feel good to have the rental situation a litter calmer, at least for now.
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