What do "expenses" actually entail on property listings?
Hello, I am beginning to look at property listings online for multi-unit properties and am seeing the "expenses" vary from property to property. Sometimes it's not even listed at all. What exactly do the expenses entail?
I understand it is "pro forma" but am having a tough time with the following...
- Are the expenses for a specific time period?
- Did the agent that listed this get this from the seller?
- How do I calculate expenses on a property I've never seen (aside from the usual built in expenses like property management)?
- Is there any way to truly know the expenses? I'm guessing the only way is to access the sellers books?
Below is an example of what I'm referring to...