This month was full of issues. So let’s jump right into it. RP#1 A lot happened this month with Rental Property #1. Here are the main points: Tenants extended their lease by another year and raised rent to $1200! Lease renewal incurred a 25% management fee ($300) Major deck repair First, The Good News The tenants extended their lease another year and in the process, we raised the rent up to market rate. They’re now paying $1200 a month. My PM charges a 25% renewal fee so $300 was taken out this … continue reading.
This month’s review will be pretty short. To sum it up, all rents were paid on time and there were no maintenance calls. Total time spent on my rentals during March was about 30 minutes. Gotta love months like this. RP#1 Another boring month, which I love. No messages from my PM about something breaking. No calls about a missed payment. Just silence and passive income at $475 this month. RP#2 Just like RP#1, March was a nice quiet month. Full rents, no maintenance, and maximum cash flow at $421. As I … continue reading.
So here’s my very first cash flow report I’ll be sharing with you all. These are actual numbers of what my rental properties have generated for the month of February. Note that when I run a cash flow analysis, I will average in the cost of maintenance and vacancies. Though for the purpose of these income reports, I’ll report only expenses as they occur. So if there were no maintenance issues for a given month, I’ll report zero. What’s not shown is that a portion of the cash flow every month is actually going towards … continue reading.