Two Tenants Moving in Monday

What a difference a week makes!

For the property with our PM, the sheriff came to remove the evicted tenants, our PM got the house rent ready at their expense, and they have a new tenant moving in Monday. The PM is also going to split the eviction fees with us. We don’t have invoices yet to know what the cost is beyond the $1600 in lost rent.

For the property we decided to continue to self-manage, we had it on Craigslist for about 48 hours with a LOT of interest. We raised rent $35/month and probably could have easily gone $50-60. There were only two properties listed on Craigslist in that neighborhood this week, there is nothing available. Bruce did several showings. We got several applications. Four got rejected, mostly for prior evictions. One applicant had nine counts of eviction! Of the three viable applications, one scored 65 points higher than our “offer unit” level, so we offered her the unit and she will be moving on Monday. Her income is in the sweet spot (3.5x rent), employment is verifiable, good rental history, and actually has bank accounts!

For the tenant who moved out, they did a great job cleaning, the main work was patching and touch up paint for big nails used to hang things (not allowed). We also had to replace a blind and the carpet in one bedroom because they let their dog urinate on it. The deposit covered all of the cost and they will be getting a small refund back for moving out midmonth and we were able to re-rent it quickly.

Hopefully both of these move ins are good choices and will have a positive impact to our bottom line!