Love My Tenant Staying Seven Years
On of my rental homes is one I own personally and I love the fact that the tenant has stayed seven years, renewing his lease every year.
Just say on average you would have at least three turnovers during a seven year period. Well not having those three turnovers probably saved me a bundle.
Turnkey: painting, cleaning repairs, lawn maitenance, utilities and let's not forget lease fee and advertising not to mention all the time I would have spend. Just guesses at least $2500 X 3 = $7500 saved. That's probably is low.
Now the rest of the story is that the tenant was a great tenant, self empolyed and doing well for a while but he moved in at the beginning of 2007. Remember 2007. He lost his business and stayed unempolyed for about two years. I did work with him but he never got more than 30 days behind on the rent. He always paid all fees including late fees.
He now has a job again and getting back into shape. He is on notice to move at the end of the month but it comes at a good time for me as I think I will be selling this home. So in the end I am very happy that it has worked out for both of us.
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