Q3 2022

September 2022

Shower repair complete. Unit 1 catching up on arrears.

Tenant Update

• First floor: $1,900 collected ($1,195 Aug, $705 Sep) 
• Second Floor: $1,395 collected
• Third floor: $1,375 collected

Major Costs Summary

• Bathroom shower wall repair: ($2,585)

Next / Todo

• None

August 2022

Shower repair came in higher than expected as water damage required r/r on framing. Total cost will be billed at $2,585 and will appear on September statement. 

Tenant Update

• First floor: $0
• Second Floor: $1,395 collected
• Third floor: $1,375 collected

Major Costs Summary

• Plumbing maintenance: Unit 3: Toilet clog ($79)

Next / Todo

• Rebuild Unit 2 Shower

July 2022

Annual rent increase implemented as seen in tenant collection updates. Unit 1 delinquencies continue and therefore property management has begun proactive collection contact. Last conversation included assurance of payment plus some arrears with a target of $2,000. At month end significant arrears were brought current (Apr - Jul) including late fees for past due rents.

Plumbing maintenance continues and though most is unplanned work it is still expected because awareness was raised as a result of the initial home inspection.

Unit 2 requires significant tile repair in the shower and decision to repair versus rebuild was presented. Rebuild option was selected to repair underlying structure as needed and install new tile. Expecting invoice with estimated $2k cost to arrive in August.

Tenant Update

• First floor: @$3,350 collected (Apr - Jul) Late fees @ $300 (Sep - Jul)
• Second Floor: $1,395 collected
• Third floor: $1,375 collected

Major Costs Summary

• Plumbing maintenance: Unit 2: RR toilet wax ring ($135)
• Plumbing maintenance: RR Ceiling leak ($245)
• Lawncare maintenance: May - June ($200)

Next / Todo

• Rebuild Unit 2 Shower

Supplemental Information

Shower Repair Pictures