Strictly Business

There really is a method to my madness. I promise.

Before lawyer costs, assuming I can get the home rented within a month, and assuming Ms. Kathy leaves the home in reasonable condition, I stand to loose about $3000 in the next year if I let her leave. Why?

Ms. Kathy pays a premium for her neighborhood. Rents dropped about two years ago. They are leveling off, but they are still lower than they were when she moved in. But, then again, I pay a premium for Ms. Kathy.

I don't have to hire a property manager to manage Ms. Kathy. But, I will with the next tenant. That alone is a drop of 10 percent (or whatever I negotiate) of what ever I get for rent.

This home is a three bedroom, one bath with no carport or garage. I didn't know that when I bought it. The realtor lied. I get more than market-share for rent, so I don't have a case to go after the realtor for lying. However, three bedroom, one bath homes with no carports aren't as desirable as a three bedroom, two bath home with a garage. If you see what I mean.

So, when Ms. Kathy came back to me--on her own mind you--saying she wanted to stay, and here is her realistic plan for being current, I was willing to entertain her offer. What she didn't know is that I will loose money if she leaves. What I knew (but didn't tell her) is that she has very strong ties to the neighborhood, having grown up a few homes down the block and her sister lives next door. That was motivation for her to figure out how to make this work.

What I also didn't tell her was in early July I will evict her out on the street if she doesn't follow through like she said she would. It really is only a few weeks away. But, we can keep that to ourselves for now.