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Updated over 1 year ago on . Most recent reply

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Samari Robinson
  • Real Estate Professional
  • Morristown, New Jersery
2
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22
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How to find out the utility bills for a property ??

Samari Robinson
  • Real Estate Professional
  • Morristown, New Jersery
Posted

I'm trying to run some numbers on a rental property but I'm getting stuck on the utility (water) bill. Do I assume a number?? Or do I ask the listing agent or contact the utility company for that area ?? Or contact the owner??

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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
3,110
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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
Replied

@Samari Robinson

I request copies of all utility bills from the owner as part of my due diligence.  I also submit a FOIA (Freedom of Information Request) to the City for code violations, liens, judgments, last 12 months of water billing, building permits issued, refuse service, etc.  I want to gather as much information as possible.  The FOIA is free and requires a response within 7 days.  I also verify the tax bill with the county.  Leave no stone unturned.

Don't guess at utility bills they can make a good deal into a bad deal.

Good Luck.

  • Kenneth Garrett
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