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Updated about 7 years ago,
Some questions when looking at my first potential rental property
Hey everyone,
I am looking at a triplex right now and could use a little guidance.
When looking at potential rental properties, do you consider it with and without utilities included? The current landlord includes electricity and gas. I know a lot of people say to always just let tenants pay for their utilities but have seen others say they don't mind including them because it allows them to raise rent and in the end they make out with a little more in return.
They sent about 8 out of the last 12 months worth of electricity bills/statements and one statement of gas usage from June 2017-July 2017 (not very helpful since barely any gas was used). What other sorts of documents should I be asking to see? Leases? More documents for the utilities they include? I have the whole analysis bit down when not including utilities but I wanted to see how that all broke down and if maybe it would work out for me.
Also, when looking at rental properties or flips, what is the best resource for checking crime in the area? Do you just call the police/sherrif's dept. and ask? If so, is there a specific person I should ask for in the department? Is there a site that gives you that sort of information?
I'm trying to learn more about getting as much data/information I can when looking at both rentals and flips... and I would love some guidance!
Thank you!