Earlier, I posted that two of our rental properties were vacant.
Rental #2, as I indicated before, has rented with an increase of the monthly rent by $5. We had the property tented for termites which cost $800 and we also had a small electrical issue addressed which cost about $200. Both expenses would have been necessary regardless of the tenant turnover.
Rental #3 is a work in progress, Mr. Sam was over at the property all weekend working on cleaning up the exterior of the property and having the interior painted. So far we have spent $600 on labor and supplies. We hope to have the property ready to show by mid-month, but obviously we are not collecting the rent for the month of October.
Due to the refinance of our primary property, we did not have a mortgage payment this month which means we have been able to utilize that money for all of these projects rather than dip into our rental property escrow savings accounts.