tenant issues

If you are going through hell, keep going. – Winston Churchill

Actually, we don’t have tenant issues. We have no-tenant issues – as in, we have no tenants. I’m not quite sure how this has happened.

Unit 1 – still in the process of renovating. It’s going slowly, but otherwise okay. Obviously, it’s not got anyone in there at the moment.

Unit 2 – our tenant has defaulted on her rent repayments, and will be moving out tomorrow. This means we’ll need to clean it up ready for renting, advertise it, have an open house for potential renters, approve somebody, and get them in. I’m hoping this won’t take more than about two weeks at the most. So, no rental income there (at least for the last fortnight, which our current tenant hasn’t paid).

Unit 3 – this is our new 2×1 in Glendalough. We settle on Tuesday. It needs work before we can rent it – painting walls and the kitchen cabinets at the very least. I can’t see us renting it for at least two weeks after settlement, but more probably four.

So, we have four mortgages, and currently only our two incomes to support us. I’m breathing deeply and assuming that there are renters out there who will snap up the opportunity to rent from us, when the properties are all available. With our current renovation, that looks like being some time in 2011.

In related news, the renos are going well. We’re nearly finished the bathroom – we just need to get the built-in cabinets put in, then we’re done. I can’t believe how much better it’s looking. I’ve taken photos, but am too slack to put them up tonight.