All Forum Posts by: Artem Belayev

@Brandon Turner

I think it also really depends to the layout of that house. Does everyone have access to the electrical box and water shut off? Those are all emergency measures that play a big role. I know someone that had a SFR converted into a duplex style. Where they rented the downstairs and upstairs separately With 2 different entrances. The stairs that led downstairs were dry walled closed. The city found out and they had to open up the staircase and remove the downstairs kitchen since the kitchen wasn't permitted. And since everyone in the house didn't have access to the electrical panel and water shut off. Im sure true duplex also have their own fire rating and much more to follow.

Zoning is very interesting.

@Kenneth Garrett any luck??

@Zach Wright hey Zach it’s definitely something to consider! It really depends on the house and amount of rooms. In my area houses that have gas are usually cheaper heating bills then electric houses. Also heating a 5 bed will be cheaper then a 7 bedroom house so the bigger the house the more utilities you end up collecting anyways. so usually everything is covered even with winter cost. My lease also includes that if the amount collected for utilities doesn’t cover all the utilities I can and will bill the tenants for the difference.

You could also get toilets that have a low GPF and shower heads. Depending on the heating you have there are also different options for thermostats.

Even if worst case scenario you need to add a little out of pocket the cash flow is good that it shouldn’t break you.

Hope that helps!

@Zach Wright Hello Zach, we charge $90 a month each tenant/room for utilities which cover garbage,electricity,water,sewer pretty much everything but WiFi. We tell the tenants that if they want WiFi one of the tenants can take the lead and sign up for WiFi and the rest can give him/her $10 each or however they decide to structure it. It’s been working great for us.

@Cassandra Lesa I would check the county website and also the city website sometimes the city has different rules then the county. In my city/county I can have up to 8 unrelated adults but another county 15 minutes away only allows for 5.

We normally furnish the common areas and leave the bedrooms for the tenants. In my market most have there own beds.

@Zach Wright I would check what others are doing in your area. Search rooms on trulia or craigslist and see. A lot of co living company’s include everything into the lease even bi monthly common area cleaning. I would say do what suits you best and as you build your portfolio you’ll see what works and what doesn’t and change it.

I don’t think there’s a right or wrong way to do it.

@Ryan Deasy thank you for the heads up! I heard people using landlordstat thermostats there programmed so that every few hours the temperature drops to 68 degrees Incase the tenant raises it up to 74 and leaves the house or forgets to turn it down before going to bed.

Thank you! Yeah with making them pay the difference there aware not to leave the windows open or abuse the utilities.

What do you use for software management or rent collecting?

Thank you!

@Ryan Deasy what thermostats do you use if you don’t mind me asking? Also what software do you use to bill them?

I’ve tried programable thermostats and the tenants ended up getting space heaters.

We charge $90 per room towards utilities and in our lease we put that if utilities are above normal and the cost doesn’t cover them then we bill the difference to the tenants. We divide the difference by the amount of tenants/rooms and bill the difference.

To have time freedom! To plan and choose my day. Spend more time with family, friends and loved ones.

To have my assets pay for my liabilities.

To have money work for money!

This is amazing congrats man!