September 2021: Out of the Red

September came with a bit of surprise wherein Unit 1 supplied a balance of unpaid rents thereby making their account current. Performing rental income and these arrears gave the balance sheet the shot in the arm it needed to clear out all remaining balance items. With that, Property Management finished the month with no remaining bills outstanding and ultimately lead to revenue deposits.

Accounting ledger is officially reconciled year to date against property management statements. These provide detailed income / expense items appropriately categorized for bookkeeping and year tax purposes. Access is available if requested though does require LLC owner or manager approval.

Tenant Update

• First floor: $2,240 collected (Aug: $1,100 + $35 late fee, Sep: $1,100 + $5 late fee)
• Second Floor: $1,295 collected
• Third floor: $1,250 collected

Major Costs Summary

• Unit 3: Door repair ($255)

Activities / Milestones

• None

Next / Todo

• Finalize property insurance transfer
• Insurance inspection remediation