Philadelphia Investment Update #8 – Received Money from Tenants

By | November 14, 2005

I received a check from my agent this weekend. She forwarded me the money my tenants owed me.

Here’s the breakdown:

$555 Rent for November (pro-rated)
$925 One month security deposit
$300 Pet deposit
-$60 Bonus to my agent
—–
$1720 Check amount

Regarding the bonus, there is a funny story to it. I paid my agent $600 to help me find tenants. There was some demand for my house and it was rented out in less than a month. So, my agent called me and asked for a bonus, because she rented out my house in such a short period of time. Many people say that I don’t need to pay her any additional money, but since she asked, I thought about it for a day and gave her a 10% bonus, or $60.

All in all, the real estate investment seems to be running smoothly. My tenants called once to ask for permission to repaint the colors of one bedroom. I told them to go ahead.

Read more:
Rental Property

3 thoughts on “Philadelphia Investment Update #8 – Received Money from Tenants

  1. Anonymous

    If there was demand for your house and it rented out so quickly then I would think that your agent had to do less work and therefore should give you a bonus. My 2 cents.

    Reply
  2. Pingback: 5 Big Myths About Owning A Rental Property | Growing Money

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