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.
The following renovations have been completed: New paint, new windows, new doors, new kitchen countertop and cabinets, refinished floors, new attic access, concrete fill, new electric service panel, kitchen exhaust fan, light fixtures, furnace and hot water tank, new plumbing, new garage roof and door, and new bathroom.
The tenant is on a 1 year lease starting on 8/31/2022 and is paying $1,025/month.
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 $7,260 to $7,500.
Update 8/29/2022: The tenant has signed a 12 month lease renewal at $1,025/month. This is a $25 increase (2.5%) over the previous lease of $1,000. The new lease will be effective on 8/31/2022, at which point you will see an increase in your CoC return.
Update 9/28/2022: 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 541 out of 705 tokens which is equal to 76.7% of the total votes. This new insurance policy will go into effect on 9/31/2022, once the current insurance policy ends.