Updated over 6 years ago on . Most recent reply
need help projecting operating cost
I really would love to hear from some other apartment owners and/or managers paying the bills on this apartment complexes. Tases and insurance I can nail down. The biggest questions are about all the little stuff like common area electricity, cleaning and constantly fixing the pool, mowing, irrigation, manager's pay, maintenance crew, exterminator, turn-over, make-ready etc etc
I am building these apartments in Texas, just north of Houston (its underway and some are done and moved in to)
20- 750 sf one bedrooms,
8- 1120 sf 2 bedroom (2 baths)
28- 1930 sf 4 bedrooms (4 baths)
I have to fix the full size washers and dryers after the first year
Wifi (8 modems with 24 access points) one account per modem that's $80 times 8
little bitty managers office
shop for storage and parts
decent saltwater pool but no hot tub, pool has sand filter
lots of good outdoor lighting over the 4.5 acres
no outdoor stairways and no balconies,
Keep in mind there are brand spanken new, one bedrooms are done and occupied, starting the others in a few more weeks after I submit for a loan. I know how build these things inside and out but being the owner and managing entire apartment complexes is something I have not done in over a decade, take all the help can get.