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landloring

April 7th, 2010 at 01:31 pm

Ahhh…the first 5 days of the new month have passed. That means…rent collection! And I am thrilled to say all rents have been collected.

This was the first month that the boys upstairs would each be paying an extra $175 a month because their 3rd roommate moved out 2 months ago and used his deposit to pay his next months rent. The boys remembered, and they paid the extra.

This was the first month I would be personally collecting from The Impulsive Purchase. I don’t know the renters styles so I wasn’t sure what to expect.
But the upstairs renter mailed the check as she promised.

The downstairs unit is subsidized by government help…and that check arrived in the mail promptly…but no $194.00 that the tenant was responsible to pay. Yesterday I called her and she was very sweet saying she would give me the money if I came by at 7pm that evening. And she did.

And now all the money has been collected! Whew…that’s a burden off my mind. And let me say it is not a bad life to get all this money coming at you from all directions. I know landlording is not for everyone…but it is definitely for me!

Posted in Owning a house | 6 Comments »

6 Responses to “landloring”

  1. Homebody Says:
    April 7th, 2010 at 01:47 pm 1270648069
    1270648069

    Just put an ad in for our rental. Hope it rents soon to good renters, the last 3 years spoiled us!

    Glad things went well for you.

  2. justme Says:
    April 7th, 2010 at 02:23 pm 1270650238
    1270650238


    That is until you're home alone and you get the call at 3:00 AM from a tenant that the sump pump failed and the basement is taking in water at an alarming rate! Just kidding ... may that never happen to you.

  3. gamecock43 Says:
    April 7th, 2010 at 02:30 pm 1270650628
    1270650628

    I hope not! None of the properties have basements! LOL

  4. Ima saver Says:
    April 7th, 2010 at 03:46 pm 1270655171
    1270655171

    That is great. I had 3 rentals and I had a terrible time getting the rent, usually.

  5. ceejay74 Says:
    April 7th, 2010 at 03:48 pm 1270655303
    1270655303

    Glad to hear it's going smoothly so far. We've got it so easy with NT's flat in the UK, I sometimes forget we are landlords! A management company handles everything; occasionally we have to pay for a repair but they just take it out of the monthly amount along with their fees. The income is direct-deposited into a UK checking account, and the mortgage payments are taken out automatically too. We only clear 300 pounds a month, but it's so effortless that it's like free money!

  6. Analise Says:
    April 7th, 2010 at 03:58 pm 1270655905
    1270655905

    All but one of my rentals is with a management company that charges 10%... worth it. The other has a solid tenant and it's been working well for him to just send me the rent for the last 7 years.

    I just hope you never have to face what we did with one of our rentals last year. I
    Text is posted and Link is http://financiallyfree2bme.savingadvice.com/2010/01/05/rental-nightmare-update_56348/
    posted about it and it was a nightmare.

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