Rental Update

I bet you’re wondering how the rentals are doing! No? Well, I’m a bit tired of the subject myself. Although it’s not been as bad as the dang remodel. Anyway, here’s the rental update, like it or not.

The first one, Academy Ridge, rented fast and easy. I figured I hadn’t asked enough rent, but was glad to get good tenants quickly.

So then I asked quite a lot more rent for the second one, on Eagle Crest, which is a house rather than a townhome. But wrong! Turns out I asked way too much for it, and didn’t get any interest. And my ad was being scammed, so I took the ad down and waited a couple of weeks while doing more upgrades.

I ended up deciding that it needed more work than I originally thought. First I had some of the interior painted, then decided I needed more interior painted. Then I decided it needed a new stove. Plus it needed new glass on nearly all the windows (broken seals). And we installed more landscaping.

I’ve finally put a new ad up, and have showed it to several people yesterday and today. I hope to have it rented within the next few days. I’m asking slightly more rent than Academy Ridge, but not very much more. Also it’s getting later in the season, and demand is dropping off.

The third one, on Peregrine, had a rent-back (the owner rented it from us for a couple of weeks, so she could leave after we closed on the sale). She’s only left a day or two ago. We are doing some tape-texture-paint around a couple of skylights. I’m also debating whether a couple of VERY blue accent walls in the bedrooms should be painted over.

Yowza, that is blue!

The yard needs some work too. My main issues are 1) bushes with no irrigation (tenants are not usually willing to hand-water), and 2) A lot of cement, some of which was once painted blue and now looks cruddy.

I don’t know what the most cost effective thing to do with this cement pad would be. I’d like it simply gone, but jackhammering cement isn’t cheap or easy.

We paid more for this one than the other two…but I’m not sure if it will rent for much more. I could start high and drop the rent rapidly if needed. Although Zillow records all that, for everyone to see, for all eternity. It’s like, what were you thinking? Why would you think that little house would rent for so much? (Uh, I was in California for awhile? I don’t know.)