Company Description
This 2 bedroom 1 bathroom single family home in Cleveland was renovated just a few weeks ago in July, 2021.
The following repairs have been made: Newly painted siding, replacement windows, interior paint, granite countertops, new cabinets, stainless steel appliances, renovated bathroom, new furnace, new hot water tank, and a new electrical panel.
The resident is on a 1 year lease until 09/30/2022 and is paying $850/month.
Updates:
Update 8/13/2021: A tenant has been found and the lease will be starting on August 24th. You will begin receiving daily rental income starting that same day
Update 5/18/2022: This property has officially migrated over to the new Property Manager, B2B Realty, based on the results of the prior governance vote. Because B2B Realty only charges an 8% Property Management fee compared to the previous 10% fee, the Annual Cash Flow of this property has increased from $6,283 to $6,487.
Update 8/8/2022: The governance voting results are back for the vote on whether to renew landlord insurance with Actual Cash Value insurance or Replacement Cost insurance. The winning vote is: Replacement Cost Coverage - $689 annually. This decision was voted on by 612 out of 804 tokens which is equal to 76.1% of the total votes. This new insurance policy will go into effect on 9/20/2022, once the current insurance policy ends.
Update 8/25/2022: The tenant had a balance for August and partial July rent, and just made a partial payment of $500. This takes their balance down to $637.08. The tenant's rental assistance application is in the final review stages and the Property Manager should be notified of the approval status soon. The PM advised that the chances of rental assistance being approved is very likely, as a caseworker has already been assigned to the case. Daily rental income for this property will stop until the application is approved. Once approved, you will receive rent back-pay starting today, as well as daily rental income moving forward.
Update 9/21/2022: The tenant owes a balance for September's rent including a late fee and a partial balance for August. The tenant has just been approved for $3,670 in rental assistance to pay for rent arrears and future rent payments. The Property Manager is currently waiting for the award to be distributed.
