Q1 2023

March 2023

HELOC payoff completed. Unit 3 tenancy begins and comes with it turn over expenses. 

Tenant Update

• First floor: $1,200 collected ($1,195 Mar, $5 late fee) 
• Second Floor: $1,395 collected
• Third floor: $1,395 collected

Major Costs Summary

• Turnover repair / cleaning (Unit 3) $275
• Marketing fee (Unit 3) $495

Next / Todo

• None

February 2023

Cold freeze yielded frozen and a broken pipe. Property management will assess damage and provide recommendation for insurance involvement. New tenant identified to begin in March. Plumbing and appliance repair yield higher than average expenses.

Tenant Update

• First floor: $1,200 collected ($1,195 Feb, $5 late fee) 
• Second Floor: $1,395 collected
• Third floor: $0 (vacant)

Major Costs Summary

• Freeze / burst (Unit 1 / Unit 2): $590
• Refrigerator replacement (Unit 1): $595

Next / Todo

• Payoff HELOC

January 2023

Porch repair completed and contractor paid. Finalized financing for repair through HELOC. Minor insurance repair expenses reflected on the January statement. Unit 3 vacancy begins and marketing for new tenant begins.

Tenant Update

• First floor: $1,235 collected ($1,195 Jan, $40 late fees) 
• Second Floor: $1,395 collected
• Third floor: $0 (vacant)

Major Costs Summary

• Misc insurance repairs: $1,150

Next / Todo

• Payoff HELOC