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Old 07-17-19, 03:16 PM   #171
Peakster
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June 2019 housing costs:

Natural Gas - $44.55
Electricity - $89.51
Water - $141.49

Other expenses:

Cell Phone - $38.58
Wifi - 61.00
Netflix - $14.83
Monthly Cleaning Service - $125.00 (top floor only)
Insurance - $114.21
Water Heater Rental - $9.71
Property Tax - $371.02 (going up again next month)
Mortgage P+I - $696.98

Total June '19 Housing Costs: $1,706.88

Rent collection from 4 housemates: $2,224.00

Month Profit: $517.12

Lots of turnover in the house & struggling to make a decent profit. Property taxes are going up next month too.


Last edited by Peakster; 10-23-19 at 08:31 PM..
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Old 07-19-19, 04:02 PM   #172
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Do you have any plans or ideas on how to fix those issues?
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Old 08-30-19, 12:04 AM   #173
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Do you have any plans or ideas on how to fix those issues?
Pretty much just need to drudge through it. Not much can be done with a market downturn. I could lower rent but then it just means 5 tenants end up paying the same amount of rent as 4 currently do with a 20% vacancy. Not worth the extra human beings in the house.

The big thing is that the view count for people looking at my online ads is much lower than it was in, say, 2011. Just too much housing supply (my realtor says that 50% of the local home listings are vacant) & low demand. Lowering prices just makes a business look desperate.

If things get really tough, I might go to nightclubs & start talking with people face to face. Hand out cards saying "If you ever want to move out of your parents' basement, here I am". Get the word out that I have space to rent. There's no doubt that some mom & dad have a son or daughter that they would love to unload onto me.
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Old 08-30-19, 12:17 AM   #174
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July 2019 housing costs:

Natural Gas - $43.86
Electricity - $125.01
Water - $149.05

Other expenses:

Cell Phone - $101.46 (exchanged my Samsung S5 to an A70, now with unlimited data)
Wifi - 61.00
Netflix - $14.83
Monthly Cleaning Service - $125.00 (top floor only)
Insurance - $114.21
Water Heater Rental - $9.71
Property Tax - $380.99
Mortgage P+I - $696.98

Total July '19 Housing Costs: $1,822.10

Rent collection from 4 housemates: $2,835.00

Month Profit: $1,012.90

Still at 80% capacity (one room is vacant... still advertised but no takers). Had a brief moment where I was 100% full but they only lasted 1 week before they transferred for work.
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Old 09-07-19, 12:00 PM   #175
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I also called the water heater company to see if I could 'buy out' the contract. Turns out they don't do that. I'd have to buy my own water heater & get it installed (a new John Wood water heater is $1,349 CAD + tax + installation) & return them the old water heater. By the way - the existing water heater (according to the serial number) is a 1993 model!
Wait a minute? Are you leasing the hot water heater? I don't understand this business model. Is it like in the old days where you did not even own the phone in your house? I would challenge that if that is the case... that plain sucks.

You did not originate the lease... is that a way out?
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Old 09-23-19, 02:53 AM   #176
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Wait a minute? Are you leasing the hot water heater? I don't understand this business model. Is it like in the old days where you did not even own the phone in your house? I would challenge that if that is the case... that plain sucks.

You did not originate the lease... is that a way out?
Yup leasing the water heater & nope - no way out. Basically return the old water heater back to them or keep paying the yearly fee. They 'don't do' buyouts. I wish it was as easy as swapping out a home phone.
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Old 09-23-19, 03:11 AM   #177
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August 2019 housing costs:

Natural Gas - $45.27
Electricity - $255.59 (ugh... I forgot to call in my meter reading again. The electric company keeps estimating sky-high usage)
Water - $166.85

Other expenses:

Cell Phone - $84.53
Wifi - 61.00
Netflix - $14.83 (considering cancelling this... the household watches YouTube way more than Netflix)
Monthly Cleaning Service - $125.00 (top floor only)
Insurance - $114.21
Water Heater Rental - $9.71
Property Tax - $380.99
Mortgage P+I - $696.98

Total August '19 Housing Costs: $1,954.96

Rent collection from 4 housemates: $2,685.35

Month Profit: $730.39

Place is still at 80% capacity. Vacant room is advertised yet almost no inquiries. A Recent survey shows that the city of Regina is the least desired place to move to in Canada (https://www.finder.com/ca/moving-to-buy-a-home) so I'm really thinking that we're just at the bottom part of cyclical housing demand right now.

Last edited by Peakster; 10-23-19 at 08:31 PM..
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Old 10-23-19, 08:31 PM   #178
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September 2019 housing costs:

Natural Gas - $64.24
Electricity - $0.00 (power company over-estimate usage last month)
Water - $153.36

Other expenses:

Cell Phone - $84.53
Wifi - 61.00
Netflix - $14.83 (Canceled starting late October)
Monthly Cleaning Service - $125.00 (top floor only)
Insurance - $114.21
Water Heater Rental - $9.71
Property Tax - $380.99
Mortgage P+I - $696.98

Total September '19 Housing Costs: $1,664.85

Rent collection from 4 housemates: $2,685.35

Month Profit: $1,020.50

Place is still at 4/5ths capacity. We'll see how these last few months of 2019 play out.
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Old 10-23-19, 11:00 PM   #179
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Nice profit.
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Old 11-18-19, 04:21 PM   #180
Peakster
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October 2019 housing costs:

Natural Gas - $114.86
Electricity - $96.71
Water - $173.65

Other expenses:

Cell Phone - $84.53
Wifi - 61.00
Netflix - $14.83 (last month with this)
Monthly Cleaning Service - $125.00 (top floor only)
Insurance - $114.21
Water Heater Rental - $9.71
Property Tax - $380.99
Mortgage P+I - $696.98

Total September '19 Housing Costs: $1,872.47

Rent collection from 4 housemates: $2,685.35

Month Profit: $812.88

New housemate moved in for November. Will have a full house & we'll see how long it lasts.


Last edited by Peakster; 11-18-19 at 05:13 PM..
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