My brother and I had a stiff disagreement last night, and it got me to thinking that we should sell the rental property we jointly own. He is overworked, over-tasked, and overwhelmed. And all I was asking him to do was to take care of the financials for the property, so that I can get my taxes done by April 15th. Today, he called to apologize for getting upset, and I gracefully accepted the apology. (I won't tell him that he triggered my emotional walls to go up and prepare for the absolute worst to happen.)
- - - - - -
We are in the process of getting the house ready for another rental. Recently, we were told that we need a new hot water installed. This will cost about $3,000 or so, excluding permits. When the permits were filed for, we encountered another problem - our dad had converted the house from oil to gas heat. But the paperwork wasn't marked as complete in the town offices, and we have more headaches because of things that happened years ago.
The work was done, but it appears that the final inspection wasn't taken care of. So, my brother is contacting the plumbing firm that took care of the boiler install years ago, and we hope to get this resolved without spending too much money. Once this is done, the new permit for the hot water heater could be issued, and we could finally be done with some of the work that's needed for the house.
- - - - - -
Looking at work we need to take care of , I feel that we need to replace windows in the basement, followed by installing a half-bath in the basement. This way, we can up the rent and recover what we put into the house this year.
Right now, I have the money in my bank accounts to fund the work on my own if needed. But that's not how things work. My brother has to find ways of financing his home maintenance as well as financing his share of this house's maintenance. This makes me glad that I only have to worry about my co-op board responsibilities, leaving general financing issues to a party of others.
I'm glad that I never bought a townhouse or detached home....
.png)
