Philadelphia Investment Update #7 – New Tenants

By | October 30, 2005

My agent called today and told me some really good news. He has found new tenants for me. The new tenants have very good credit, some of the best my agent has seen. They also have stable jobs, two kids, and a dog. Because they have a pet, my agent took down $300 for pet deposit. I knew nothing about taking a pet deposit, but that’s the good thing about hiring a competent and knowledge agent. The new tenants are going to move in around mid-November, the rent will be pro-rated for that month. The rent is $925, which is on the lower end of what I aimed for, but the amount is still considered very good. Many of the houses in Philly rent in the 800s. My agent is going to have them sign the lease next week and pay one month security deposit.

Also, my previous tenants have moved out and my agent said “they left the place spotless!” I’m lucky compared with some of the horror stories I heard from my friends’ ex-tenants.

It looks like the new tenants are going stay permanently. The adults are young couples and have gotten new jobs in the area. My agent also said that they should be good tenants and not give me any trouble. As long as they don’t give me trouble, I would be so happy. I just want to sit back and collect money now.

Let the money flow in!

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