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yhome90daysperformancereport 2025-03-04 - 428 Cross St - 428 Cross St, Akron, OH 44311.pdf

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90-Day Performance Report for Rental Property Property Address: 428 Cross St, Akron, OH 44311 Owner: Lofty Holding Reporting Period: 8/31/2024-3/5/2025 Overview This report summarizes the performance of the rental property over the past 90 days, focusing on income, expenses, and notable maintenance issues encountered during this period. Income • Total Income: $17,585.71 • Other Income:$0 • Total Income: $17,585.71 Expenses • Total Fixed Expenses: $ 2,513.57 • Total Operating Expenses: $13,877.14

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90-Day Performance Report for Rental Property
Property Address: 428 Cross St, Akron, OH 44311
Owner: Lofty Holding
Reporting Period: 8/31/2024-3/5/2025

Overview
This report summarizes the performance of the rental property over the past 90 days,
focusing on income, expenses, and notable maintenance issues encountered during this
period.

Income
•

Total Income: $17,585.71

•

Other Income:$0

•

Total Income: $17,585.71

Expenses
•

Total Fixed Expenses: $ 2,513.57

•

Total Operating Expenses: $13,877.147

•

Total Expenses: $16,390.71

Maintenance Issues Summary
1. GM: Multiple problem reported, and we were able to resolve the issues, most of
them were general Maintenance item.
2. No significant problem reported
3. Total of general maintenance and seasonal maintenance related to hvac, furnace
tune up etc.
4. Eviction was in process and still in process, one tenant on payment plan to clear
eviction
5. Legal fees
• Total Maintenance Costs: $9,328.147

Key Highlights
•

Vacancy Rate: Now fully occupied with a possible move out 5/2025

•

Tenant Feedback: Tenants are currently happy, and all reported problems have
been taken care of and for those that are behind in their payment, payment plan are
initiated to help them.
Recurring Issues: Many service calls and repairs, one turn repair and also shared
utility problem.
It's worth highlighting that the property has shown significant improvement
since the start of the last quarter, concluding on a positive note with fewer
service requests. However, we currently have an ongoing eviction that has
incurred attorney fees, and we also have a Section 8 tenant who may be moving
out in May 2023. Once her departure is confirmed, we will conduct a move-out
inspection and address any necessary repairs. Additionally, we may need to
perform a Section 8 turn repair to facilitate the transition to a new tenant,
should another Section 8 opportunity arise.

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