Cost of Utils included in rent ?
Hi ~ when running numbers on small multi families ( considering to buy ) ~ often utilities costs are missing from listing, and seller is often not at showing ~ agents don't know and don't seem interested in finding out.
Are there rules of thumb to estimate these costs ?
Ty,
Kevin
Most Popular Reply
@Kevin Carpenter When you view the property and if tenants are there, you can also ask them how much they pay, which is usually pretty informative. Also ask tenants if there are any recurring issues.
Typically when completing the due diligence, you'll have a chance to see the current Sch E, which will list utilities if the owner is paying anything. For my multi unit, I'm required to pay for garbage removal, for example.