My First Adventure in Landlording

by mapgirl on June 19, 2009

I floated out an advertisement on Craigslist and to a private social mailing list. I got some good responses and next thing I know, I’m showing the place in a right state on Saturday afternoon to a friend of an acquaintance who lives in the neighborhood.

I cleaned up the fridge, kitchen and bathroom, and found my special rice cooker in a cabinet I overlooked before. I would be sad if I left that behind since it was my cooker in college and I love its retractable cord. I vacuumed a bit and lifted up the drop cloth to show off the carpet’s condition.

I showed the place to a woman on Saturday and she loved it. She’s verbally committed to July 1st start. I figured out that daily I lose quite a bit of money each day and that reminder is a motivator. It’s bad when you’re inspired by a TV program but Scott McGillivray on HGTV’s Income Property reminds me that time is money and being on a deadline is important here. July 1 here we come!

The total so far is $1,999.79 on renovations. I just have a few more days of painting and cleaning left. I have bought the insurance I need (basically reducing my coverage on my homeowner’s policy and picking up renter’s insurance) and call the exterminator to spray pre-emptively (free under condo’s contract) and the plumber to fix a slow drain (~$125 out of my pocket).

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