Company Description
This property is a fully renovated 3 bedroom 1 bathroom single family home located in a suburban, tree-lined, A.I. recommended neighborhood of St. Louis.
This property has an open floor plan with a completely updated kitchen including all new/newer appliances, newer cabinets, new countertops and large serving area. It has a beautiful large open kitchen overlooking the family room with new six panel doors, new windows, new trim work throughout, new upgraded carpet, and new flooring in the living room as well. This home has a completely updated bathroom and a brick private patio out the kitchen sliding door that offers a bonus area on the side of home. There is also a new garage door and gutters installed. This property is in close walking distance to civic center and Robinwood Elementary.
The tenant is on a 1 year lease until 12/31/2022 and is paying $1,200/month.
Updates:
Update 7/22/2022: The tenant is late on the current month and the Property Manager has not been able to get a hold of the tenant. The tenant has a history of 1 late payment prior to this month. Based on the recent governance survey on how to deal with delinquent tenants, the PM will be offering the tenant a payment plan subject to their discretion. This has been communicated to the PM and they will continue to try and make contact with the tenant. Daily rental income will begin again once the tenant has paid their rent in full.
Update 8/9/2022: The tenant has finally responded to the Property Manager and made a payment of $800 on August 5th. The tenant also promised to make a payment of $800 this week. The PM advised that we can hold off on filing an eviction. They stated that the tenant is a good candidate for a payment plan since they have started communicating and have already made a payment.
Update 8/29/2022: The tenant has a balance of $1,260.66 after making a payment of $500 towards their balance on 8/14. The Property Manager is in the process of setting up a payment plan with the tenant.
Update 9/28/2022: The tenant reported water leaking which caused the floor to buckle. The Property Manager responded and found there was a leak from the hot water heater. They attempted to turn off the water, but the main water shut off was not working. The drywall surrounding the hot water tank was also damaged. The tenant also reported a clog for the shower and toilet. A restoration team was able to extract the water, removed damaged drywall, and installed dehumidifiers to speed up the drying process. The cost for the water extraction and dehumidifiers is $432. These funds will be deducted from the Maintenance Reserve. Additionally, the water was shut off from the street side because the main shut off valve inside the home does not work. A plumber recently repaired the shut off valves and replaced the hot water tank. The total cost to replace the hot water tank and install a new shut off valve is $2,379.07. These funds will be deducted from the Maintenance Reserve. An insurance adjuster was also assigned to the claim but the claim was denied, citing that the damages have been present and it was not reported timely by the tenant. We are working on appealing this with the adjuster. The plumbers have not been able to close the permit out with the county for the hot water heater as the tenant has failed to turn the gas back on, and it must be turned back on in order to close the permit out. The flooring will also need to be replaced and the PM is waiting on the tenant to schedule a vendor to obtain an estimate.
Update 10/5/2022: The tenant is currently 2 months past due on rent with a balance of $2,668.94. Additionally the tenant is not taking care of the property and the Property Manager (PM) received a third fine violation of $190 from the City of Florissant for not maintaining the yard. The PM has paid the fine and charged the tenant back for the fine. Based on the governance survey on how to handle rent delinquencies, the winning vote for this property is to offer a payment plan. The Property Manager recommends to remove the tenant by Cash for Keys at $1500 (move out by 10/10) or eviction due to the continuous city violations stemming from tenant neglect to upkeep the yard along with the late payments. Because the PM's recommendation is different than the governance delinquency survey, a governance vote will take place to determine whether to offer the tenant a payment plan, Cash for Keys, or to move forward with an eviction immediately.
Update 10/10/2022: The governance voting results are back for the vote on whether to offer the delinquent tenant a payment plan, Cash for Keys, or to move forward with an eviction immediately. The winning vote is: Eviction. This decision was voted on by 1,907 tokens and a Supermajority of 60% was reached in the third round of voting using the Ranked Choice Voting method. The payment plan option was eliminated first, and the Cash for Keys option was eliminated second. The Property Manager has been informed of the LLC's decision and will be moving forward with an eviction immediately.
