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Updated almost 9 years ago,
How do I put the utilities on the tenants without loosing them?
I've been looking to buy a multifamily in a new area that should have good numbers. A lot of the properties I'm looking at are close to a college and have a strong rental history. I'm finding places that are 100k and bring in 1400 in rent. I at first was very excited about these numbers especially if I could purchase the property for 85k to 90k. But, in this town the landlord seems to pay all the of the utilities which take away most of the cash flow along with high taxes. How do I put gas, and electric back on the tenants without loosing them? I spoke with a local realtor and he said that he sees a lot of tenants taking advantage of this especially in the winter. One property I was looking at had a $350 utility bill because of all the heat being used. How can I get creative with these types of properties to make them profitable?