They’re moving in now with free rent for March; we’ll get our first rental check for April. Hallelujah!
I really was not expecting this so soon. Our rental house in Vegas has been empty for three months — we’ve been without tenants longer than that before, in a better economy.
The Terms
The tenants signed a one-year lease for rent at $895/month. After taking out the 8% property manager’s fee, that will bring approximately $823.40 our way each month.
(I say “approximately” because occasionally a repair or some such expense will come up that our property manager will take care of and then deduct from our share of the rent check.)
That’s about $50 less than the amount of rent we pulled from the last tenant’s lease, but I’m okay with that.
The tenants will also pay an extra $20 each month for the water bill, which will be more than enough averaging out the winter and summer months.
I find it highly ironic that our water bill here in Ohio is considerably higher than what you pay in the Nevada desert.
Other Expenses The Tenants Pay:
- Power Bill
- Gas Bill
- Water
- Phone/Cable
As the Owners We Still Pay:
- Sewer/Trash
- Association/Assessment Fees
- Homeowners’ Insurance
- Property Taxes/Mortgage, etc.
I am very excited about what this rent check will mean for us in reaching our financial goals for this next year. I was truly taken aback when I received the message from our property manager that the house was rented. It must have happened very quickly; we didn’t even know this person had inquired about it.
Next stop: Emergency Savings! We were already well on our way into that before these tenants signed the lease. Now we’ll be able to build one up that much faster.
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Jolyn,
Congrats on getting it rented. What a huge relief for you!
Roberta
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YAY!
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Great great news…. When that rent cheque comes that whole time of no-rent will be forgotten
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God is SOOO good! I am so glad He is blessing you as you strive to get Financial Peace!
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How wonderful! God IS good.
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Great news! I’m sure this is a big weight lifted off your shoulders.
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Congratulations!!! So happy for you Jolyn!!! God is good!
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YAY!! Celebrating with you!
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PTL indeed!
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Indeed what a relief! With a years lease you should be able to breathe easy for a while with this one. Congrats.
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That is soooo awesome!!!!! Don’t ya love it when a plan comes together? What did Hubs say? (and speaking of Hubs, we need an update on how he is doing!!!)
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Congratulations! What a relief! I know that you are happy about that.
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jolyn Reply:
March 11th, 2010 at 11:23 pm
Thank you! And we are!
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