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Rental updates, Dad, not for profit

October 1st, 2015 at 03:19 pm

HI all

rental updates. All units filled. (thankfully)

Existing project manager has taken price gouging it appears to a new level after my giving notice. I had to speak to an attorney and really just out of control. I finally got him to stop (I think) just removing whetever he wants from the rents. We are supposed to meet this week on over $2000 (OVER TWO THOUSAND DOLARRS) of unauthorized, unapproved, repairs that I had no knowledge of. Attorney says to just settle, not worth it to sue and hard to prevent him taking the money on such short notice without disrupting rents. Crazy.

Anyway. swapping homes on hold. too much going on. person who runs my not for profit has been in the hospital this week and may need an angioplasty! and be out for a a few weeks. REAL bad news. not set up to run this in her absence very well

Dad doing well but steady decline. now it is hard to hold his fork so he eats sandwiches, he thinks he works still and gets $9000 a month. We normally go along w him and do not contradict just 'redirect'. however this time (as he asked me to go over his finances) it was awkward and sortof accusatory as the $9000/month was not in his accounts. Stressful. Facility says to keep conversations short on finances, do not bring it up, if he asks reassure funds are safe etc etc.. and redirect. They said accusations, suspicions are common. Uncomfortable.

Anyway. I am grateful I am able to contribute $2k a month to the 3 unit fund (payoff w $69k in June 2018 and I already have $4k saved) and save even more after that. Still paying back various funds for the 6 homes but feeling better

REALLY praying the new property manager is better and he should be. main issue is renting these harder to rent ones (which we just did and this new manager is definately going to be better at I think) and stopping unnecessary or made up or just 'unknown' costly repairs all the time. New PM notifies me w costs of ALL repairs up front and takes photos as his NORM. He also logs all tenant calls

New tenants both look good . both have family and friends in the area and both want to stay a long time

Hopefully that is the case.

Existing manager still has not renewed those leases. What is he doing.

Just his quality of service has gone way down

I only have 2 section 8 homes now.. vs 6 originally. this should cut some of my repair costs too as I was having to have yearly inspections on all before

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