Multiunit Landlord Costs

[Scott Hensley]

I am looking to invest in small and medium sized multiunits (15-100 units) and am trying to get a good estimate for electrical, water, and landscaping costs as a whole or per unit.  I know this is a rather broad topic with a range on answers but would appreciate some direction that would allow me to get an estimate to use in my evaluations.  If you would please share what  you have experienced as well as the number of units associated with those costs I would greatly appreciate it.

Thanks,

Scott 

[John Warren]

@Scott Hensley I have a small sample size, but I can share what I have. For electrical costs in my buildings (corridor style) I pay about $5 per unit per month. So, for my 4 unit in Lyons I pay about $20 per month, and for my 9 unit I am paying around $45 per month. I use all LED lights with low wattage in the hallways. 

For water, I like to estimate around $50 per unit per month, but this will absolutely be location specific depending on local water rates. I have found the $50 per unit to hold true in both my properties here in Lyons and Berwyn as well as my 20 unit property in South Bend, IN. Some months it is a tad under that, but for estimating purposes I like to overestimate by 10% or so. 

Landscaping is tough because a "per unit" basis doesn't work as well across different types of properties. I have found that Illinois properties cost about $15-17 per cut. This would break down to $17 per unit at my four unit, and $7.50 per unit at my 9 unit. 

 My South Bend properties are spread out and have large lots, so we pay $100 per cut. This would end up being about $10 per unit per month.