2025 Snapshot

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Q4 2021

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December 2021

December was a quiet month with no surprise expenses landing. Unit 1 delinquency limited the upside of the limited expenses.

Insurance is finalized and in place. Still awaiting a bill from the mortgage company for the interim insurance.

Tenant Update

  • First floor: $0
  • Second Floor: $1,295 collected
  • Third floor: $1,250 collected

Major Costs Summary

  • None

Next / Todo

  • Year end accounting / taxes

November 2021

Full rents were collected including a $900 in arrears for Unit 1 yielding a great rental income month. Near recurring expense aside from a significant cost of the basement exterior door replacement which was part of pest remediation. 

New insurance servicer was identified and contact has been positive and engaging. Initial new policy got caught in underwriting because it was the same provider this property was previously on. New carrier identified and applied. Policy is currently in place. There is an outstanding bill from the interim insurance over the last six (6) months. That should arrive in December estimated at $1,700.

Tenant Update

  • First floor: $1,100 + $900 in past due
  • Second Floor: $1,295 collected
  • Third floor: $1,250 collected

Major Costs Summary

  • Exterior / Basement: Replace exterior entry door ($1,027)
  • Unit 2: Heat service: New thermostat ($130)

Next / Todo

  • Finalize property insurance transfer
    • Verify policy in place and mortgage is updated
    • Schedule new inspection

October 2021

Unit 1 became current last month, however, they are delinquent again yielding a shortfall in rent collection. Misc. plumbing repair for unit 2 was performed and bills were covered in month. With the shortfall the month still yielded a positive income deposit.

Due to a lack of responsiveness from the insurance servicer a new servicer has been selected and is actively developing a quote. Unfortunately, this will likely yield another inspection and likely some new remediation items.

Tenant Update

  • First floor: $0
  • Second Floor: $1,295 collected
  • Third floor: $1,250 collected

Major Costs Summary

  • Unit 2: Plumbing repair: Stove repair ($300) 
  • Unit 2: Outstanding bill for kitchen faucet ($189) and sink repair ($245)

Next / Todo

  • Finalize property insurance transfer
    • Receive quote from new servicer
    • Schedule new inspection

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