All Forum Posts by: Ryan Scott

I'm renting current places at $995-$1100 now and raised rents on a few low apts that are around $800 (raised them $50) most tenants are at around $875, to anyone that's had to do a rehaul on tenants and long term rents how would you guys strategize the raises? Stagger them? Every 3-6 months? Raise $150-200 at once? Thanks

Thanks for the rely, I'm basically in downtown Ashland... What kind of rents are typical you think?

Hi all I'm new to the site. I have a question on a 16 unit building I own in Middlesex ma. (Ashland Hopkinton Framingham area-01701-01701 zips). The units are about 500 sqft each, 1 bed, 1 bath, kitchen, living room and 2 closets. Heat and hot water included (no individual meters). Good schools, close proximity to T. I am fully occupied with an avg rent of $911.80 (2 lowest rents at $750 and $800 two highest rents at $1100 (section 8s). There is a building close by 480 sqft studios for $1150 but it is a little nicer and there are amenities (pool gym). I'm betting about 80k or so mortgage aside. Realty Tax is about 18k a year insurance $7500 water sewer avg $16k utilities $8-9k. I'm looking for general advice and an assessment of my rents. Rentometer is telling me I'm on the low end of the bell curve but I don't know how much to trust that web site. I'm hoping to connect with other investors in my area that know what kind of CAP rate I should be expecting in this part of MA. Thank you!

Bump

Hi all I'm new to the site. I have a question on a 16 unit building I own in Middlesex ma. (Ashland Hopkinton Framingham area-01701-01701 zips). The units are about 500 sqft each, 1 bed, 1 bath, kitchen, living room and 2 closets. Heat and hot water included (no individual meters). Good schools, close proximity to T. I am fully occupied with an avg rent of $911.80 (2 lowest rents at $750 and $800 two highest rents at $1100 (section 8s). There is a building close by 480 sqft studios for $1150 but it is a little nicer and there are amenities (pool gym). I'm betting about 80k or so mortgage aside. Realty Tax is about 18k a year insurance $7500 water sewer avg $16k utilities $8-9k. I'm looking for general advice and an assessment of my rents. Rentometer is telling me I'm on the low end of the bell curve but I don't know how much to trust that web site. I'm hoping to connect with other investors in my area that know what kind of CAP rate I should be expecting in this part of MA. Thank you!