Hello everyone, we just purchased our first rental property in Beloit WI, a 2 bedroom, 1 bathroom. We want include water and sewer in the rent, and were wondering if anyone knew the average bill amount is?
Call water utility and ask the previous bill amount.
We allow 55 per month.
Call and get a 24 month average.
Thanks for the help guys! I take it that it's normal for the landlord to pay the water and sewer in the Beloit market? It's great to see that there are many like minded investors in my area; I am new to this, and very motivated to reach my goals, and it's encouraging to know that there are others in the area!
Paying the water bill can prevent the tenant from non payment and it being levied against your real estate on tax bill. Or just follow tenants bills close and be named as a 3rd party notice when bills are unpaid
I cover the first $40-50 and invoice the tenant for the rest (if any). It *does* seem to be the norm in Beloit.
I would always recommend having the tenant pay for water, even with the risk that you could possibly have to cover the cost if they don't.
I like to budget on the high side for water especially in SFRs where there may be washer and dryer. I would say between 35-45 is a good budget.
With duplexes and SFRs I have the water billed to the tenant but they have to provide a copy of the payment stub and bill the following month with their rent. It works for me because all I have to do is enter the reminder in the system calendar. If they send rent and don't enclose the proof of payment, then I know I have to touch base with the tenant.
I think that those numbers are low I would be closer to $75- $100 per month.