All Forum Posts by: Rudy Ratner

Hi,

I'm from the northeast, moving to South Carolina. I don't see many multifamily properties built in SC, specifically around the Rockhill area.

Are there any areas in South Carolina that has more inventory of MF units? Would appreciate any insight and direction.

Thank You

@Wesley W.

This is awesome advice! Thank you. 
And if by any chance the water bill goes upto $500 or more can I then change the lease mid-lease? 
This has happened with one of my friends who owned a multi and one of his tenants was using the provided W/D to run a mini laundromat with his friends and family!

@Patrick Drury would you happen to know the typical cost for sub metering a multi?

@Kevin Sobilo

$100 per month for water is a lot!!! 

Of course if it goes to that, that means inflation inflation will also increase and we would have other things to worry about!

@Nathan Gesner

Thank You for that feedback. Those were along my lines of thinking too. 

I thought that too, but with the national drought and water bans in my area, I worry that water prices are going to increase soon.
And thank you for the occupancy idea, I will try that!

First time land-lording, so go easy on me :) 

The area my property is in has coin-op laundry in the basements which seems to be common on other similarly rented properties in the area. I would deem the neighborhood a B class neighborhood. 

I would like to attract a more reliable and higher caliber clientele and was planning on providing laundry units in each of the units. The electricity would be paid by the tenant, but the water costs will be borne by me, the landlord since the water meter is not split. Only the electric and gas are split. My realtor said to use coin-op so as to recoup the water cost. 

When i think of it from my perspective, I would never rent a unit with coin op because I want to be able to wash laundry in my own home whenever I want without having to scavenge for quarters and take them down to the basement every time I wash my clothes. There may be times I only want to wash a small load and not have to wait to fully load my laundry in order to get the most for the coins I'm using. 

Am i being delusional in thinking I can attract a class A type tenant to my property by providing non-coin operated in-unit laundry? If I do that, could I simply add a disclaimer to the lease stating that if the water bill goes above a certain amount that the tenant agrees to pay the difference? That way I can safeguard myself?

What are your thoughts/advice?

Thank You

Thank you @Jordan Sand, this helps!

So FB is still a popular platform huh? 
I am a first time owner occupied landlord and have an entire unit to rent (preferably to professional or small families

@Greg Weik If I were to advertise on the platforms you mentioned (apartments.com, homes.com etc..) does each one take fees or is it free?

What is/are the best platform(s) to advertise my property for rent that can reach the widest client base?

Is it just zillow/apartments.com etc? Is Facebook reliable nowadays?

Any insight would be appreciated! 

Thank You