Requesting utility bills and proof of rental income?

[Kellan P.]

Hey guys, 

Does anybody have a process they follow to gather specific income/expense numbers when searching for an investment property? I need proof of the utility bills and previous rental income, otherwise I'm just taking the owner's word for it and running numbers that could give me inaccurate cash flow.

The duplex I'm looking at in London, Ontario is currently vacant, but he says that it was getting $1000/month income per unit. 

He also said that the Heat/Hydro were $350/month, but I don't know if that's just during the warmer the summer months, etc. 

I appreciate the help.

[Nick V.]

For utilities I am not sure unless they can provide the bills to give you an idea, or maybe talk to neighboring owners. I try to knock on the neighbors doors to get a feel for the area, the current owner/tenant etc.

As for accurate rent, I would compare the unit and the location to what is listed online or kijiji to give you an idea.

My duplex or if im looking at one, I try to have separate utilities to have the tenants pay for them so they can have as many fridges as they like!