I'm looking at purchasing a rental property and I was wondering where people find information on costs such as water/sewage. Do you go to the city or contact the water company to get numbers for this? Or do you make a conservative estimate on the cost? I happen to live in Orange, California, but I'm wondering if there is a resource in general that people would go to in any city to get costs.
Hi @Nathan Worden ! If the property is currently occupied, I'd ask the existing tenants for a copy of their utility bills. Otherwise, I'd check with the respective utility companies to get cost info. See if you can also get historical data, so you take into account seasonal factors.
The seller should be able to assist you with most of this.
Thanks @Mitch Messer ! That was very helpful!
@Nathan Worden most utility departments can assist you with cost, asking the seller is a better option so you can analyze the performance of the property and not just utilities but all the expenses.
most single family/condo, etc have the tenants cover the utilities, so often times it's not that important in the calculations unless u will cover them.