Capped all utilities included

[Michael Ketchen]

Hi Guys,

Curious if anyone has ever done the following. We recently purchased our first large multi in Manchester NH (13 units). And given the existing structure had to rent it as all utilities included. The good news is we have been able to increase Rents by 30%+ on existing units! ...now we just put two more large multis in same city under agreement and started running what we call ghost ads (Craigslist, fb market, etc to gauge interest prior to close at different prices points, verbage etc). These buildings are all separately metered and have a energy efficient Reinhart heater in each unit, One ad has apartments at $1450 and no utilities included. The other is at $1750 all utilities included.  The intrest is four to one at the $1750 price. This got me wondering, can we provide "all utilities included" but cap it at a certain price point before the excess goes back to tennant?

Thank you for any reply!