Lets talk expenses. How are yall handling the utility bills do the tenants pay, are yall billing them back, or has anyone can up with another creative solution? Are there any unplanned or unseen expenses you came across, and what did you do to handle the issue? Thanks in advance
Tenant puts all bills in their name and they pay them. Easy peasy. :)
(There are a few pockets in OKC metro that requires landlords to pay city utilities and water, so the landlords I know in those areas just do an expense cap and bill the tenant if it goes over that.)
Cassi Justiz what about lawn services are tenants taking care of that as well?
Our tenants pay their own utilities unless the property is not sub-metered by unit. In that case, we have an idea of the utility expense and account for it in the rent price. In Warr Acres, we have to pay the sewer/trash but it's a set amount and again, accounted for in the rent. Tenants are responsble for lawn care in the single families.