Who pays utilities?

[Jose Almonte]

So looking into single family homes in the $400K range. 

Assuming $150K downpayment the mortgage payment comes out to $2300 rounded. 

Property tax is usually around $6300 a year rounded. $525 a month. 

Zillow rent estimator predicts $3000/month 

I’m not looking to cash flow much year 1. But I’d like to be cash flow positive even if minimal. 

The real goal is capital gain, and future cash out refinance. 

It all comes down to utilities, and insurance. Who pays for utilities in NJ? The landlord or the tenant? Thanks. 

[Elias Halvorson]

I don’t know why it would be different in NJ, but they (renters) should be paying utilities. If you decide to cover, make sure something in the contract stipulates you will cover up to xxx amount. Otherwise, the renters could be bitcoin mining or driving 2-3 electric cars and you’re paying for everything. 

[David Krulac]

@Jose Almonte  In the multiple states, where we have rental houses, the tenants pay for all utilities, shovel the snow, mow the lawns, and take care of minor maintenace.  We always pay taxes and insurance for the rentals., but do encourage the tenants to carry tenants insurance also.

[Caleb Brown]

Tenants pay utilities unless its a program like Section 8. Home insurance is you

[Michael Coco]

You need to pay for water, sewer, and garbage removal in NJ. The other utilities can be paid by the tenant. Just make sure that the municipality doesn’t have some strange requirement about utilities for landlords. You should always have insurance on the property and require your tenants to get renters insurance.