Rental Income: December 2018 report

Rental Income: December 2018

December is now fully in the books, so let us review last month passive income from the rental units we own.

Last month we had a vacancy for the first time since September 2017.  I spend much of December working on the unit to get it back ready to be rented by January 1, 2018.

Last month I spend 80 Hours, renovating the unit, showing the unit - until the lease was signed with a new tenant on December 31, 2018. The tenant finally moved in January 6, 2018.

Rental Unit 

Now lets us review last month numbers:

Income:

$3700.00

Expenses:

Mortgage &Insurance & Tax $2171.93

Water bill $0.00 Next month.

Utilities $ $54.00

Material $300.00

Tenant screening $50.00

Total Passive Income: $634.07

The current federal minimum wage is $7.25 per hour, and has not increased since July 2009. With my effort and hour spend in managing the unit I Made just over the minimum wage $7.925. 

However, I was also able to paid the the mortgage with the tenants paying for it, which also increase our Net worth by: $503.60.

The updates done last month,will hopefully last few years. Hopefully the new tenant can stay few years.

The rental market keeps going up in Massachusetts as a whole particularly in Taunton, which is 45 min south of Boston. 

Now that all the units are rented will built some reserves to hopefully paid down all our debt and focus on savings in the next few years. 

I also appreciate my rentals right now. As a federal employee, I will probably miss my next check and who knows when we will be paid again. This is disappointed as I have been working not knowing when I will be paid. However, the rental will help paid all our bills in January, specially since the tenant paid first and last month.

So in total our passive income was $1269.73, when I calculate Dividend received, Rental income and Mortgage paid down.

So what is your excuse for not owing rental property?

How did you do overall in your passive income. 

Thanks for visiting,

Dividend Pursuit

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