The Tales of Two Duplexes

Two happenings at two duplexes this week.

Our smallest duplex (1/1), managed by the property manager, had a turnover. Our tenant of 2 1/2 years moved out. He had been looking for a smaller place. Smaller than 1/1. But he has no income. When we accepted him he was on a program that paid his rent, and that ran out and his family has been helping him. Our PM got a new tenant in, with no lost days of rent (?) for $150/month more rent. We paid $165.10 in turnover costs, for 10 hours of cleaning, flea fogging, and a few items.

And the other side of the duplex installed a fence at their own cost. I don’t want pets in this duplex because it is tiny, with thin walls, and a shared porch. But the current renter got approved with a companion pet, so there are pets there now. That evidently need a fence. It is a nice fence at least, photo above.

Another duplex, has had a tenant since we purchased it in 2010, inherited. Has lived on that block all his life, paid rent on time, but was a major PIA. Demanding, attracted vermin, threatened to move out or call his lawyer at the drop of a hat, and our maintenance costs on that unit are more than all our other units combined. It was an ongoing discussion what do to about this tenant. By the time we realized that we should part ways, it seemed like it could be viewed as retaliatory. So when we started getting calls this week, we were excited. “Would you rent to him again?” Bruce, always the diplomat, “I would, but my wife wouldn’t!” He still got accepted, will be moving soon. Had conveniently forgotten that he lost his deposit in previous property foreclosures or that he doesn’t get a refund of all rent already paid form his elected move out date.

Another opportunity to raise rent at least $30/month. And, we are seriously considering handing this duplex over to our second choice PM to see how things go with them. Bruce is excited at the prospect of not managing this property any longer, but he says I can’t complain about empty days if we sign a PM we know has a lot of empty days…