need help projecting operating cost

[Charley C.]

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.

[Bjorn Ahlblad]

@Charley C. Congrats on the build! As a rough number about half your rent will go to maintenance including PM, repairs, lawn care, taxes, water and sewer, insurance etc. Not including CAPEX which you won't have for a while; but build your reserves just the same.

You really need a proper PM firm-there is just too much liability and risk if you don't, and 56 units is not enough to swing it on your own. I would negotiate with one or more licensed PM's in the area and make sure you get the right one to serve your needs. All the best!