Company Description
This single family home was fully renovated in 2022. It has 3 bedrooms, 1 bathroom, and is located in Cleveland, Ohio.
The following renovations were completed this year: Brand new windows installed throughout, new vinyl flooring, new light fixtures, new kitchen cabinets and granite countertop, new bath toilet & tub, updated house electrical wiring, replace/repair all drywall & ceilings, and fresh paint.
The tenant is on a 1 year lease which started on 4/1/2022 and is paying $1,200/month.
Updates:
Update 7/21/2022: The tenant owes partial rent of $900 for July and does not have a previous balance. The tenant is currently on a weekly payment plan and will have the balance paid by the end of the month. You will continue receiving daily rental income as usual and the Vacancy Reserve will not be spent, as the tenant's weekly payments are up-to-date.
Update 8/2/2022: The tenant reported foul smelling water leaking from the basement. A vendor has responded to the work order and found that the drain for the kitchen sink has been being emptied on the basement floor. The work will require running new plumbing from the sink to proper drains, snaking the line to clear any blockage, and cleaning & disinfecting the basement area. The total cost of repairs is $1,124.13 which will be taken from the Maintenance Reserve of this property. The Maintenance Reserve will be replenished via 10% of the cash flow until it is full again.
