Property 20 – Inherited is not always good

It’s always good if you Inherited something. Well, not tenants who is paying below market rate in a house that need extensive TLC. Unfortunately this is the case. This i the last house of the pack that i bought together with my investors, you can read about the other two here and here.

The tenant is still paying me 200$ weekly. last week i received a call from my PM that the AC and the water heater finally reach it’s end of life. i’m not a slumlord so i have to do what i have to do. replacing everything brand new for the tenants. may be it’s time for me to raise the rent.

If they refused to sign the new lease with the new rate then probably i have to move them out and that will be another story to tell. let’s hope that everything will go as planned but in the same time prepare for the worst

 

 

more to come on this one