Multifamily costs estimate

[Adriano Caraco]

Hi.

I am looking for Small Multifamily In STL.

Need some help help with what should I use as estimate for utilities.

What is usually paid by the owner and what is usually paid by the tenant? And what is the average cost?

Thanks

Adriano

[Jack Luzecky]

@Adriano Caraco as mentioned above, MF tenants will typically pay electric and gas (as applicable) and the owner will pay water, trash, and sewer. Electric and gas companies will go after the tenant for non-payment. In single family homes it is not unreasonable for the tenant to pay ALL utilities. Tenants are allowed to put water, trash, sewer in their name, but if there is a past due balance they will go after the property owner. Because of this, owners will typically keep these utilities in their name to ensure on time payments and bill the tenant on a monthly/quarterly basis. 

St. Louis City Rates:

• -Trash - $14/month/unit (billed quarterly)
• -Water - $3.76/room/month; $14.72/toilet/month; $12.35/bath/month; $12.35/shower (separate from bath)/month (billed quarterly)
• -Sewer - $26.35 base charge/month; $8.93/bath/month; $2.89/room/month; $10.72/toilet/month (billed monthly)

**Room count is based on City Tax Records (make sure city records are correct)

@Frank Masek and myself work with multi-family investments in St. Louis City on a daily basis. If you ever need assistance with your next acquisition we would be happy to help.