I recently sold a rental condo to a currency homebuyer in Jacksonville.
- It was a large relief to get out from under the enormous repairs required to make the apartment livable.
When I initially rented out the property, it was in good condition. I’d invested time, currency and labor into a fresh coat of paint on the walls, ceilings and exterior. I installed a new bathroom vanity, mirror, light fixture and toilet. The refrigerator and oven weren’t new however they operated just fine. I offered a brand new dining room sink faucet and dishwasher. The water heater was only three years outdated and the Heating, Ventilation, and A/C system was under ten years old. The apartment offered a single study room, single bathroom and twelve hundred square feet however offered a sizable amount of property. When my tenants first moved in, they were prompt with payment and kept up with mowing the lawn. They gradually started having some trouble coming up with the rent. Payment kept getting later and later, and they had more and more excuses for the delay. When I’d drive by, I’d notice the lawn looked unkempt. The grass was high, the gardens weedy and there were broken lawn chairs and assorted trash strewn about. The tenants also called nearly every afternoon with some complaint. They wanted a new refrigerator and stove. They were unhappy with the water pressure. The air conditioner wasn’t keeping up with demand. The situation steadily worsened until I finally began eviction processes! Getting those tenants out of the apartment was nearly impossible. After they vacated, I discovered extensive detriment. There were broken windows, holes in the walls, missing light fixtures and the bathroom vanity was missing entirely. Plus, they poured cement down the drains. At that point, I simply wanted out from under the expense and stress. The Jacksonville buyer offered an offer, a currency payment and a closing date within ten days.