August 2013 Review

August saw my net worth increase by 0.5%, with a medium savings rate partly offset by falls in investment and pension values.

The value of my investment portfolio decreased by around 1.5% with falls in many ETFs towards the end of the month. Gold and silver were slightly higher which cushioned the falls.

My pension fund unit values decreased broadly in line with the major equities indices.

My property remained occupied but the current tenant will be leaving in September.  Whilst i don't expect any vacant period, there will be a few turnover costs as a result. However, there may also be higher rent going forward which will be of benefit in the long run.

Cash balances increased but the savings rate was lower than usual, due to some large travel and leisure expenses. Some of these were planned so i'm not overly concerned.

Year to date net worth growth: 32%
Year to date savings rate: 74%

Some tenant turnover

I recently learned that my tenant is looking to vacate my property early to relocate with work.

Fortunately i have a good property agent that has agreed with the leaving tenant they will be liable for rent and bills up to the date a new tenant moves in, thus ensuring no vacancy losses.

I will however have to pay for the usual items with new tenancy agreements, but these should not be material and would have been incurred at the end of the tenancy anyway - ie. more of an acceleration of costs.

The good news is that after re-marketing the property for one day, a new tenant may have already been found that is prepared to pay around 6% higher rent.  I'll see how this progresses over the next couple of weeks.

The benefits of a good property agent cannot be underestimated!