Property originally listed for sale on the marketplace by Daniel D. Jimenez and Esperanza H. Angeles.
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Single Family Home located in St. Louis, Missouri.
Details
- Craftsman-style ranch home
- Renovated in 2021
- New roof, doors, windows, kitchen including appliances, furnace, A/C, water heater & electric service.
- Bathroom has all new fixtures and a custom tile tub
- Newly installed blacktop driveway, & nice sized partially fenced backyard
- Outside has a back deck leading to patio/barbecue area
- Conveniently located near transportation, airport, shopping, restaurants & entertainment
- The sewer line will need to be cabled every 2-3 years for normal maintenance due to general usage and tree roots, often times. The cost of this is $150-$200.
Property Management and Insurance
Occupancy Status
- 1 year lease (03/01/2023 - 02/29/2024)
- $901.25/month
- $1,075 Security Deposit
- Tenant was previously on a 1 year lease (01/15/2022 - 01/31/2023) at $875/month
- Lease Agreement
Location Data
- 2.5/5 Neighborhood Rating on Roofstock
- "B" Rating for Zip Code on Niche
Due Diligence Documents
Property Updates
Property Update (06/26/2023):
- Owners voted to change property managers to Evernest Property Management via a Supermajority of 91.9%.
Property Update (05/11/2023):
- The tenant signed a lease renewal at $901.25, a $26.25 increase from the previous lease of $875.
- The tenant will also pay a monthly fee of $60.36 for sewer utilities, a $2.03 increase from the previous rate of $58.33.
- The new lease started 03/01/2023 and will expire on 02/29/2024.
- The lease renewal fee is $250, which will be deducted from April's rent.
- The tenant paid a $1,075 Security Deposit for the previous lease.
- The Property Manager is investigating the reason for the delayed lease renewal update, and will collect the additional funds from the tenant to disburse to owners, starting from when the rent was increased on 03/01.
- Lease Agreement
Property Update (11/10/2022):
- The tenant was approved for a rental assistance award of $3,425.
- After applying the award to all past due rent, there is a credit balance of $1,092.17 remaining.
- The credit will cover rent and utility charges for December.
- Owners will receive back-pay for rent from 9/22 to 11/10 shortly.
- Daily rental income will resume tomorrow, 11/11.
Property Update (10/21/2022):
- The tenant made a partial payment of $440.60 this month and has an outstanding balance of $1,670.
- The governance survey results show that the winning vote is to offer the tenant a payment plan.
- The Property Manager also recommends a payment plan and will be working with the tenant to get them current.
- The Property Manager will also be filing an eviction in order to increase the likelihood of the tenant receiving rental assistance, which they recently applied for.
- If the tenant gets caught up on the payment plan, the eviction will be cancelled.
Property Update (09/22/2022):
- The tenant owes a balance of $1,042.83 for September's rent and late fees.
- The tenant promised to pay soon but could not give a specific date.
- The tenant has applied for rental assistance.
- The governance survey results show that the majority vote is to offer a payment plan (subject to Property Manager discretion).
- The Property Manager will work with the tenant on a payment plan in conjunction with the tenant applying for rental assistance.
- Once the tenant has paid their balance off, investors will receive back-pay for this property as well as daily rental income moving forward.
