What is up, you all? It is Cory with Clear Property Management. We are at a townhouse here in Conway, Arkansas. We are actually right by the University of Central Arkansas. This small apartment complex is a 12-unit apartment complex and it’s just steps from the business center that’s right over there. Literally, all you have to do is cross Donaghey Avenue and you are right on campus. Outside of that, even if you aren’t going to college, it’s a very good-looking place because you are centrally located. Dave Ward Drive is just right there, which gets you to the interstate and gets you to a lot of restaurants, shopping, et cetera.
Where we are at on the situation that we are in, a tenant of ours had some financial troubles and he needed to break lease early. That is not something that we enjoy or anything else like that. They communicated that with us. We were able to get all their stuff out. I communicated that with the owner. The owner was willing to basically cut them loose early for a preset penalty amount. Our thought is if they are having financial troubles for whatever that may be, it’s easier or better to just bite it in the butt right in the very beginning, charge them for their time, accept their security deposit after the fact, and just move on. Because if they’re having financial troubles, it means they’re not going to be able to pay anyways, so why prolong this and give them free housing in the meantime, if that makes sense.
Anyways, we are at this place and I wanted to show you all a tour of it. Coming in here, it is a two bed, one and a half bath townhouse. You can see we got some good old socks that are left, but this place actually just got completely redone or rehabbed not too long ago. It’s actually in fantastic shape. All appliances are included here. The owner actually pays for the water, and trash, and sewer. All you are responsible for is the electric which is actually a pretty good deal. We are going to list this for around $900 a month.
The owners are not willing to have pets or anything of that nature just because they just rehabbed this place, but honestly, it’s for the better. When you’ve got a small community like this, there’s not a lot of grass or anything for dogs to go out and play. It’s kind of a good thing.
Obviously, electricity just got shut off, so we do not have lights right now. But yeah, honestly it just needs a really good paint touch-up throughout and this thing should be good to go. It’s in good working order. But you can see the parking lot right there. Not too busy. Like I said, it’s in the middle of the day right now, but you can see the dumpsters right over there on the far end, so it’s pretty easy to get to when you are taking out your trash.
But yeah, like I said, our plan is now that everything is out, we are going to get contractors in and make some minor repairs plus cleaning. I’ve actually already listed this place for rent and we have gotten a pretty good turnout right now so far on applications. We are sorting through all those, but actual showings will not start until after we get this place ready to go. We just do not want to show this place before it’s ready because we don’t want to send out the wrong impressions right there.
Anyways, that is it. I wanted to show you all a day in the life right there. Things happen and we at Clear Property Management are more than willing to help you out in navigating any issues you have with tenants and letting you know our opinion on that and helping you navigate through all that stuff for your rental investment properties. If there’s anything we can do to help you in the Central Arkansas area with your investment properties or you buying of investment properties, please give us a call. Thanks.
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