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I resigned yesterday

February 15th, 2018 at 08:31 pm

HI all

News.

Cabinets are IN. punchlist at 2 flat is being done this weekend. Hoping to get the city through Tuesday for final inspection

I resigned yesterday( scary tense day). Response was surprise from my current company and wantnig me to stay. I am still leaving but am leaving on VERY good terms Feels good.

New job starts 3/5
Last day 2/28

I am taking 2 days off

I have a vacant house that I really need to get rented and them some guy in the 3 units did not pay rent since Nov, we got possession at court but he has til Month end to get out. This guy told my attorney he wants to work out a payment plan to pay the judgemetn off.. fingers crossed but we stil want him out. Really wanting rentals on solid footing again. 3 unit rent is $650, house is $1275. That is my loss of rent every month. Maybe if the blizzards and sub zero temps would moderate some Smile

2 MORE PAYMENTS for the 3 units
One due March 15 then will pay the April payment at the end of March.. then all my rental income will go to the 2 flat payoff (for fix up debt)

I an doing all sorts of supplies returns tomorrow and getting supplies for the punch list so will figure out final 2 flat debt after that

THANKS to this team for helping me get the courage up to make the job transition!!

I can expect a $1000 net increase in take home pay on a 40 hour week, FRIENDS/social during the day and challenging while retaining some work at home and JEANS when I at work. 401k no match but I can start contributing in July

Still nervous but getting a 'little' excited too

Rachael

Posted in Musings | 4 Comments »

4 Responses to “I resigned yesterday”

  1. snafu Says:
    February 15th, 2018 at 11:25 pm 1518737127
    1518737127

    Congratulations, I know you manage change better than most. Wonderful to leave on good terms, can't image your 'slamming a door,' behind you. No point, no gain

    Wilfully not paying rent November, December, January, February is just not acceptable. Do renters wait for winter when court is more flexible since it's so cold? What is the action path routinely followed by your management firm 12 months? Are rents via automatic deposit? Are renters required to give 1st & last month's rent + damage deposit + post dated cheques to carry them through their signed contract? What is the renter's penalty for late payment?

    What is management's procedure after 3 days late? 5 days late? Is someone calling the employer? What is the 1st date they can file, in small claims court?

  2. Rachael777 Says:
    February 16th, 2018 at 01:01 am 1518742902
    1518742902

    Lots of questions! We generally file and get to court sooner. Cold weather does delay things. We had negative degree weather, frozen pipes, for several days then over a foot of snow. Process is .. 5 day notice after 5 days. if no response then go to court. Generally they call to work something out (pay late, payment plan, move out date) This guy was a good payer. did a partial payment Nov.. did not pay Dec but lots of messages etc.. support. dr notes etc.. we let it go. filed in January. court delayed by weeks due to weather... and then out he goes. And for these units we get 1.5 months rent up front. The mgmt company screens well but some time things like this happen .. I get FREE placement of someone else when this guy moves out. You are going to have some loss of rents or vacancy each year so it is built in. I am not too stressed (just moderately stressed.. haha) just want him out sooner (like now or last month). I am really wanting to pay this 2 flat debt off and really want to start saving. I am paying over $8k a month in mortgage payments for the rentals.

  3. rob62521 Says:
    February 16th, 2018 at 04:08 pm 1518797325
    1518797325

    Hoping for lots of good things coming your way with the new job.

    That stinks about the folks not paying rent. I sort of wonder if he wants to work on a payment plan to extend his almost free stay. Don't blame you for wanting him out.

  4. snafu Says:
    February 16th, 2018 at 04:30 pm 1518798619
    1518798619

    Thank you for responding to so many questions. It seemed so loosy goosy for management company to have a tenant stay rent free November - Feb 28. I know you pay mortgage whether rented or not!

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