I’ve run out of evening to make a longer, more elaborate post regarding the Real Estate Report, so will keep this short and simple for today. Any questions, please do leave a comment 🙂
Rental income is boring this month, no vacancies and every rent wat paid on time, yeah!
Expenses were a bit higher then anticipated. Primarily due to high costs on the boiler systems of two units. One had a leaking valve, which set us back about €77. Both units needed to be fitted with Carbon Monoxide switches, as both were deemed at risk by the original manufacturer. The cost: €35 for the two sensors. The total cost for the two boilers: €315 (normally that should be €156).
Other expenses for the month are:
- Interest costs (mortgage and loan)
- Insurance costs
- Property mangement costs
Real Estate Report – Overview
Still, a pretty good month none the less. We still made well over €2.000 in net rental income (granted, before taxes!):
There will be some significant costs made next month as two units will be fitted with continuous ventilation. Furthermore the moisture issue will hopefully be tackled too with a lead slap and expoy barrier being placed within the wall. Costs will probably whipe out rental income for the month of Februari and/or March. Depends on when the work is executed and the bill arrives.
But at least we won’t kill our tenants with mold and we will also keep the building in better shape by keeping moisture levels down.