House for sale Again

I finally gave my property manager her notice. $175 a month for collecting and depositing a check was a bit extravigant. I had a few grievances about the service charges I received on top of her monthly fee. I thought everything was fine with the renters. I notified the renters that they would be paying me starting in August. They responded with the fact that they didn't like the small lot or the neighbors and did this void the lease agreement so they could move.

I did some research and a dear friend sent me a link to the state law regarding property manager termination and lease agreements. The lease stands, thank goodness. Just like banks transfering ownership of mortgages, the lease just becomes our property and the property manager relinquishes interest  and liability in the lease. The tenants don't want to sign a new lease, I don't want to cancel the old one, which just started in March.

Knowing that the tenants don't want to stay. I put the house back on the market both as a rental and as a for sale by owner. We want someone in there who will want to stay long term or buy it.  We'll take what ever comes first. The tenant is willing to show the house since the sooner we get someone new in there, the sooner he can leave with agreeable terms, both of us agreeing to break the lease without penalty. I agreed to give him back the deposit as soon as I have a replacement. It was a win win for both of us. He'll show the place nicely and I wont have to drive down there each time. The nice thing is I have until next March to work this project. Hopefully, we will have it resolved before then with someone new living in the house. Luckily it is peak season for rentals and real estate.

I did tell the tenant that I had bought all that paint for them in their prefered colors.Luckily the colors are all pretty good.  They had tackled a couple of the rooms, and done a great job. Those rooms looked better than when I lived there,  but one room had been started and not finished. I asked him to finish the rooms he had started as I would have to hire some one to fix those unfinished or partial rooms. The fix costs would come out of the deposit.  He agreed to that point.

He is showing the house today. I had a call to see it for a potential rental, someone wanting to upsize from a small house, with children. I am hopeful we find someone soon for both our sakes, either to buy the house or rent it. Buying it would be dreamy. Nice thing is it behooves the tenants to have the yard and house in tip top shape to get a new person to take it off his hands quickly so he can get out from under his lease without a big penalty.

 3078 square feet, 4 bedroom 2.5 bathroom, 2 car attached garage, built in 2002

$265,000 to buy  or $1800 a month

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