Close Out Prices, Everything Must Go

Drat.

I broke down and lowered the rent I'm asking for on my condo. I'm now renting for $600 + 1/2 utilities. I'm not thrilled about this, this means I'm essentially paying $800 a month for rent.

My rational comes from this simple math equation:
the original plan was to rent $700 for 12 months ($8400).

If i can't get someone in for a month i have to pay that amount. So that's $700 bucks out of my pocket for a month. Now, if we think of this in terms of year leases i will be getting $700 for 11 months (assuming i find someone to move in December 1st.) that's $7700 over the span of 12 months. (total loss, $700)

on the other hand if i can rent it out by Nov 1st at $600 that's $7200 over the span of 12 months. (total loss, $1200)

So essentially I'm looking at a loss of either $700 (for not renting the room on time) or $1200 (for renting now at a lower rate).

Unfortunately no one is interested in $700 a month for Lake Elsinore, so I'm considering the $700 as lost, so I'm figuring I'm loosing $500 deducting the $700. (please don't state the obvious, let my faulty logic be my security blankey.)


This also means i won't have enough to make any trips to Canada any time soon, which is unfortunate. i was looking forward to going north, so i could go south...




Exile

Original_exile@hotmail.com