Its April already and I have to say that this year at this time is 100 % better than last year at this time. The Smooth work life, again.
Last year I had over half of the rentals empty and I went to each and cleaned and did the repairs, some taking longer than others, I was living on half the income and using that same cash flow to repair each one, it was not easy but I managed it right.
I learned a huge lesson last year about the people that were coming to me for a house, most of them did not work regular, all of them had pets and none of them could afford to pay me what I wanted for the houses. As I repaired and cleaned the houses I as thinking about how to draw in the people that I wanted in the neighborhood, the peaceful people, the young families.
I upped my game, added a little more here or there, although it took me longer to get back on the market.
I also listened to someone I do not even know, I was so down about how someone left one of the rentals and when this person said "What kind of people are you renting to? They Don`t seem to care." That statement did open my eyes so I did a little research and found out why I was getting the so called "I don`t care" people. I was to cheap! My prices was an invitation for disaster.
Now I am in competition, no longer the lowest but the same price as other rentals in the area. It has been a long time since I raised the rent and I can say it was well overdue. I have a no pets policy that I stick to, they will be evicted if they get an inside animal and MUST have written permission for any outside pets, so far all of the tenants came to me without owning pets. All of the tenants, except the elderly ladies, work full time jobs and all of them have young children.
Collection this month was a breeze, for a change.
I called and made the appointment time to collect for each and all were on time.
I have even stopped carrying the elderly ladies around, however, I do give them a ride to the bank but that is it, no more all day taking them grocery shopping or dropping them off at a restaurant and coming back to pick them up. Just as I knew they would, they have found someone else to do it, A member of their church.
I made a list of small repairs or things that need to be done for each. I hope to get that started next week, today its raining so no working on any of the rentals.
I still have the one place that I am repairing, its at a stand still till warmer weather so maybe, just maybe I can get back on it later this month. I could have a yard sale there while its empty too, I often do that, at least use it for something :)
I also sold another house, "for sale by owner" So far all is good and payments are on time but that will more than likely be the last I sell this way, I prefer all the money at once so that I can apply it back into the business.
How is your business life this year?
By Andria Perry
Photo By Andria Perry
