Mario flew to Florida last Wednesday and closed on our new home. He originally wanted to send me to do all the paperwork and as much as I would love to get a break from the cold weather in Nebraska, I wanted no part in finding new tenants for it. Landlording doesn't sound the least bit fun to me.
The sellers close on their new home the first week of April so we decided to be generous and let them stay in the home until they close so they don't have to move twice. That may have been a mistake in hindsight because now we may have to pay cleaners to come in and clean because we won't be there to do it ourselves. The sellers agreed to clean it well but who knows what standards they use.
We originally set the rent at $1700. That would cover everything including all the taxes, insurance, lawn and pool care. But we didn't have a lot of calls about the property at first so we dropped it to $1675. Now we will have to pay the optional flood insurance out of our pocket. We still weren't getting a lot of calls so Mario was ready to drop the price by a hundred or two hundred dollars. I told him no way. Be patient. I was confident that we would find a good renter sooner than later. When I told Erin that Mario wanted to drop the price she said, "Just wait. You'll find a good renter just like us." That was good encouragement from our 13 year-old.
Mario got a call on Sunday from a parts manager of a dealership that was transferring down to Sarasota. He asked to see the house on Monday. So Mario showed his girlfriend/wife (not sure which one) on Monday afternoon and she gave him a $500 deposit to hold the home for them plus the $70 required for criminal and credit check. Mario ran the checks and called all the references. They came highly recommended by everyone he talked to. So they move in April 6.
I feel like March has been a stressful month and now I realize that Mario and I stressed for nothing. We have been so blessed. I am hoping that if we can keep a good renter in the property, we will be able to pay off the mortgage by time he is ready to retire in 5 years. It will require me to stick to my budget though. So I might not be taking any fancy vacations (cruises) for awhile. But being debt free is so important to us, it will be worth it.