Who pays for 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.

[Earl White]

For utilities, whenever there is separate meters for a unit (such as a single-family) tenant will handle those utilities. Multi-family without separate meters may need more unique billing arrangements such as passing the costs through to each tenant on a square footage basis.

As far as insurance, landlord will have to maintain their own insurance per mortgage requirements. Lease should make tenant secure renter insurance. You could make the tenant get property insurance - but customarily residential tenant will not pay for insurance.