This month really hasn’t gone great as far as my rentals go.  I have one non paying tenant that I will be evicting.  I have the deposit at least, but still chaps my hide I haven’t received one payment from them.  The gentleman I talked to last time ended up being thrown in jail himself.  Hard to make money for rent behind bars.

On my other property there was a water leak from the water heater in the basement.  It caused a decent amount of water damage.  I take partial blame for this one.  My tenant mentioned water leaking at the same time they had issues with the dishwasher.  I assumed (yes I know about assumptions) that they were from the same source.  Nope.  I go over after she calls me on Thursday and take a look at the leak.  She couldn’t identify the source.  It took me all of 5 secs to find water leaking from the water heater drain.  It was plain as day.  Oh well.

Since the leak has been going on for over a week, I didn’t want to take any safety chances here.  I called a specialist to come in and remove the water, and spray to prevent any mold.  I got 2 estimates.  First was $1000 dollars, the second was a recommendation from my home warranty company.  Estimate $2400 dollars.  That was an easy choice. So they are currently in the drying process.  I need to call them first thing on Monday morning to make sure things went well and there were no hidden charges.

Thankfully the water heater repair just cost me the $50 copay from my home warranty company.  The home warranty has already payed for itself twice over on this property.

To add insult to injury this month, I found out my first insurance payment was not payed due to a communication error between me and the lender.  So two properties needed the insurance payed in full.  Another $700 dollars.   Turned out to be a $2400 month for my properties.  Not fun.  I knew I would have months like this.  I was just hoping it wouldn’t have happened so soon.  Oh well, I have to keep telling myself “Your a landlord now dumby, you knew what you were getting into.”  Fair enough.  Hopefully the next few months go better.