Company Description
This occupied, cash flowing property is a recently renovated 3 bedroom 1 bathroom single family home located in a trending neighborhood of Cleveland.
This home has a spacious interior with a large living room, fully updated kitchen, 2 bedrooms and updated full bath all on the main floor. The finished dormer offers a large 3rd bedroom. There’s also a full basement, detached single car garage and a private backyard.
Located in a central Cleveland neighborhood, it’s near schools, shopping, restaurants and has easy access to public transit routes and highways.
The tenant is on a 1 year lease starting on 10/1/2022 and is paying $880/month. This is a $45 increase (5%) from the tenant's previous lease.
Updates:
Update 5/24/2022: 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 charges an 8% Property Management fee instead of the previous 10% fee, the Annual Cash Flow of this property has increased from $6,451 to $6,651.
Update 8/12/2022: The tenant has been approved for rental assistance which will cover rent from August - November. The tenant has also agreed to a 1 year lease renewal of $880, a $45 increase (5%) from the current rent. This rent increase will go into effect on October 1st, 2022, once the current 1 year lease ends.
Update 10/1/2022: The tenant's lease renewal begins today at $880/month. This is a $45 increase (5%) from the previous rent.
Update 10/14/2022: The governance voting results are back for the vote on whether to renew landlord insurance with Actual Cash Value coverage or Replacement Cost coverage. The winning vote is: Replacement Cost Coverage. This decision was voted on by 893 out of 931 tokens which is equal to 95.9% of the total votes. This new insurance policy will go into effect on 10/31/2022, once the current insurance policy ends.
