I am sick and tired of this recession.
The mayor put a hold on evicting tenants due to inability to pay rent.
Yet, as an apartment owner, I am still expected to pay my mortgage as well as pay for any repairs that my tenants need. I have been trying to get away with only doing the bare minimum of repairs but that is starting to take a toll. Those repairs start adding up if you ignore them. For example: I used to hire an HVAC company to come by twice a year and maintain the HVAC system for the whole complex. I have one large HVAC system and it connects to all of the apartments. Of course the system has zone control so each apartment can control the temperature in his or her own space. This year I decided to skip my summer maintenance because ¼ of my tenants are not paying rent right now. That turned out to be a very expensive mistake because the entire HVAC system broke down in August. I ended up having to pay the HVAC company extra money to come out quickly and repair the HVAC system. On top of that I decided to go ahead and pay them to do the regular maintenance too. Thankfully the HVAC company takes payments but I don’t know how much longer I am going to be able to hold onto this apartment complex. If people don’t start paying soon I may just let the bank take it. I don’t want to do that but I really don’t have much of a choice.