Today is the first paycheck for me with a 10% reduction in salary. Everyone in my company took that cut so we are all sharing in the pain.
And we have two tenants who are on their way out, which means two additional mortgages that we are responsible for paying next month (unless we can convince them to stay, which we are working on).
As a result, my tummy hurts thinking about how we are going to manage for the next few months while also trying to reach our savings goals. Ugh!
What are the reasons the tenants are leaving? Were they able to find a better deal somewhere else, were they unhappy for some reason that is potentially fixable (or not), or for some other personal reason? What kind of incentives will you offer to try to convince them to stay? Lower rent, one-time credit, different terms, home improvements?
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