All Forum Posts by: Austin Copas

Now that I know tenants should pay for as many utilities as possible and I am looking into a property if there are not separate meters per unit would it be a must-have to get them installed? also if the tenant is paying for all utilities how would you determine rent? Because sights like Rent-o-meter do not put that into account.

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Originally posted by @Bryan Noth:

@Austin Copas the answer can vary greatly on area, what market are you considering specifically?

Many of those variables you can find with researching a specific market: HOA, PM, Capex, maintenance, vacancy, debt service.

Electricity can vary quite a bit, having energy efficient home upgrades can help there.

Water depends on whether the tenant pays or not. If they do not pay, I assume the dishwasher runs after every meal. Also the number of bedrooms and bathrooms in the home/unit will influence the water usage to some degree.

Overall you want the tenant to be responsible for their own bills as much as possible. People tend to keep themselves in check when it is coming out of their own wallet.

From what I know typically the tenant pays for electricity and gas while the landlord pays for everything else. If you did charge the tenant for everything would you need to dramatically reduce the rent?

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Hello, I'm Austin I was wondering how much money I should set aside every month for the different utilities and expenses. Since I am too young to legally own a multifamily property myself I am going through LoopNet and running the numbers on different properties to find deals for practice. I have a spreadsheet that I made with different utilities and expenses that include taxes, insurance, water, sewer, garbage, electric, gas, internet, lawn/snow, HOA Fees, vacancy, repairs, CapEx, prop. management, mortgage. I was also wondering what are the best ways for the tenant to pay for these utilities because I saw a few ways such as a flat rate or paying for only a few of the utilities? This would really help me and thank you for the help!

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All Forum Posts by: Austin Copas

Austin Copas has started 1 posts and replied 3 times.

Post: How much do I set aside for expenses in Texas?

Post: How much do I set aside for expenses in Texas?

Post: How much do I set aside for expenses in Texas?