The month is almost over, so it’s time to for what I like doing most: calculating how much money we earned this month. Passive income that is of course! Without further ado, here is the Real Estate Report – February 2017.
It was another good month with no vacancies and all rents paid on time. Love it!
Expenses were a bit lower than anticipated as the maintenance and mechanical ventilation installation works were not able to be completed this month. Primary reason for that is that the economy is doing rather well in the Netherlands. In short, more people are spending money and contractors are busy. This was no different for our own contractor. However, we have (finally) been able to schedule the work for March 1. Mr CF will be helping out to keep the costs in reign.
Other expenses for the month are:
- Interest costs (mortgage and loan)
- Insurance costs
- Property management costs
Real Estate Report – Overview
We made a total of €2.275 in net rental income for the month of February (granted, before taxes!). Our net-cashflow is a bit lower due to the mortgage payment (about €410 lower to be exact).
As noted above, we will be doing the mechanical ventilation installation in early March. But still need to find a date to install the moisture barrier within the outside wall. Perhaps in combination with the installation of a drainage system to keep groundwater levels down. It will depend on how much time our contractor will have for us within his busy schedule. But once the mechanical ventilation is installed, the moisture issues should already be reduced significantly.
We also still need to start work on the renovation of the outside walls for two of our properties. Have not had time to start the requests for quotation yet.
Do you have real estate? If so, how was your month? If not, are you tempted after seeing this report?