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Agenda - Council - 10/13/2015
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Agenda - Council - 10/13/2015
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3/17/2025 4:11:28 PM
Creation date
10/15/2015 4:07:01 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
10/13/2015
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RM Golf Carts: Rent Analysis <br />New Rent Justification (based on input from broker) <br />SF PSF (Market) Annual Monthly <br />Garage Space <br />Outside Storage Space <br />2750 $ 4.00 $ 11,000.00 $ 916.67 <br />30000 $ 0.50 $ 15,000.00 $ 1,250.00 <br />totals $ 26,000.00 $ 2,166.67 <br />Currently Paying $1,500 per month <br />New Payment Schedule Monthly Annual Taxes NET (before maint./ property fixes) <br />Year 1 $ 1,675 $ 20,100 $ 7,722.09 $ 12,377.91 <br />Year 2 $ 1,850 $ 22,200 $ 7,953.75 $ 14,246.25 <br />Year 3 $ 2,025 $ 24,300 $ 8,192.37 $ 16,107.63 <br />Year 4 $ 2,200 $ 26,400 $ 8,438.14 $ 17,961.86 <br />Year 5 $ 2,250 $ 27,000 $ 8,691.28 $ 18,308.72 <br />Payment schedule was result of negotiating with tenant (step up rates to get to market) <br />NOTE: tenant is high quality (always pays on time, maintains property well and independently) <br />
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