There continues to be significant demand for rentals in our area. I'm filling them just about as fast as I can turn them around. Today, I spent most of my time rehabbing a one bedroom apartment in the pink elephant. I steam cleaned the carpet; painted the living room, kitchen, and bathroom; trashed out both bedrooms; and replaced some light bulbs. Still to go - painting both bedrooms and fixing broken doors on a couple of kitchen cabinets.
I also got a quote for a monitored alarm system for the old store front at the pink elephant. Currently, I have a $99 alarm in the store front, which could clearly be easily defeated by a serious criminal. The monitored system that I am having installed will have cell phone technology and will not only call the monitoring center, but also will send a text message to my phone. The system will also have a push button remote for arming and disarming the system, which will allow and instantaneous alarm in the event of a break-in. I have also opted for a smoke detector as part of the system. The total cost is $615 for all the equipment and then $19 per month for the monitoring.
After the alarm system is installed, I will be moving all my supplies to this location. Currently, I have tools, supplies, parts, etc, scattered in two other apartments, which obviously aren't being used as rentals. Moving all my stuff to one location will not only allow it to be protected by an alarm system (and my surveillance cameras), it will alsow allow me to have two additional apartments that can be rented!
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2 comments:
Mike-what is your rental property count? How many apartments, houses, duplexes, etc. It sounds like quite a bunch.
You can also write this property off as "office" space as well as gain two apartments!
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