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Updated over 4 years ago,
All-inclusive rentals - Thoughts?
I own a couple of apartment buildings in Mexico City, Mexico, and have been successful leasing with everything included. By "everything" I mean water, electricity, internet, cable/satellite TV, renters insurance and burglar alarm service. This helps me as follows:
a) I make 20% on all services provided.
b) If a tenant is late with rent (which occurs rarely) I shut down all the services!
c) Tenants avoid having to pay for deposits on services.
I also collect rent every 2 Fridays. Which is an additional 1/2 month per year for me, but renter's perception is that they are simply paying for all the services and rent in a comfortable bundle.
Do you think that this is achievable in Texas? I closed on 3 properties (19 units) and am in the rehab stage.
I look forward to hearing your thoughts on this concept!
Thank you.
CL.