Rent Calculator Help
Hi All,
I am just dipping my toe into REI and have succumbed to the information overload if not analysis paralysis bug. I was wondering if someone could explain a portion of the BP Rent Calculator. If I have a base rent amount per month that I've gathered from comparable rents in the area and I have a vacancy percentage factored in then why is it asking me to factor in expenses for gas, electricity, water, etc.? Wouldn't my rent that I set include those expenses on my behalf including the cost of the mortgage?
Also, assuming someone is renting the property I would think they will be paying the utilities.
Apologies if this seems like an elementary question but I fear I've read too much into the information presented to me.
Most Popular Reply
Hey @Alec Devall treat that portion as an other. BP has to have it to cover there bases but you wont always use it. You can use it blank if it doesn't apply. Utilities is such a toss up and can be area/property dependent. For example, my heating for my duplex isn't split so I can't legally charge for oil. Theres no way of telling whose using what. But I also live in an area where almost every landlord covers the water bill. It just really depends on where your investing. Look around at other rental listings and get a sense at what's normal and what's not.