This post is an update on my rental property in Philadelphia. In this section, I talk about my landlord experience – the good, the bad, and the ugly. All my posts that are related to the rental property can be found in the Rental Property section, including the bad tenant saga series).
Below is a snapshot of the rental income and fees since the new tenants have signed the lease in June 2009, until the end of November. I have included my monthly expenses such as insurance, taxes and interest on the mortgage, as suggested by Boston Renter. The net has finally turned positive in the report for this month, but this is not an accurate account for the year, because I have not included all the repair fees that I had paid before the tenant moved in.
Please note that PDF file does not include the principal payments on the mortgage, travel expenses, and all the water fees, which are still pending payment from the tenant.
In the next update, I will post an annual report that will include the income and expenses for all the months in the year. I will also include the renovation expenses to get a better overall picture.
Rental Property Update November 2009