When your TENANT is CAUGHT in the SEQUESTER Vice....

By
Property Manager with Gibson Management Group, Ltd.
https://activerain.com/droplet/Rlh

I have several residents who are employed by local DoD subcontractors.

My rent renewal notices hit their mailboxes on Monday and they are concerned that they may not have JOBS much less increased income to pay the stipulated rental increase because of the threat of sequestration.

Fortunately, my increases are less than half of any shortfall for the NEW rent for NEW residents AND most of these residents have a "working spouse" who make significant income from PRIVATE local employers.

I've agreed to delay initiating my REmarketing efforts for their homes until the end of March AND I've notified my owners of this action.


Meanwhile, I'll keep a record of anyone who may be interested in a similar property and suggest that they bookmark my website and come back after April 1st.

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Rainmaker
508,095
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Wallace, What a mess.  This is the first real world consequence from all the hot air I've heard from Washington.  Good for you to take it in stride and let it sort itself out while looking out for your owners. 

Feb 28, 2013 01:58 AM #1
Rainmaker
3,245,019
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Wallace,  Glad that you are on top of what is happening.  Now what do you think, will the number 10 win a race this year.  I think she did a good job last week.

Feb 28, 2013 02:32 AM #2
Rainmaker
1,240,746
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Danica has a lot of support and great sponsor...she will do well in 2013

Feb 28, 2013 05:27 AM #3
Ambassador
4,374,997
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

"keep calm and carry on", good advice Wallace, most of the sequester is just a lot of posturing while they fight over which things to drop and who to tax, and it will likely result in nothing changing.

Mar 01, 2013 05:41 AM #4
Rainmaker
420,748
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Wallace, 

Makes sense to take a deep breath and see how the "government ineptitude" actually plays out.  Keeping good tenants is always a good plan, but I love your detailed contingencies.

All the best, Michelle

Mar 01, 2013 05:50 AM #5
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Wallace S. Gibson, CPM

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