Water/Sewer and other costs for Multifamily in ABQ?

Question

Anyone local want to share what their 2b/1ba run on water bills?  Also, are there any hidden costs or taxes one should be aware of when investing in Albuquerque?

The reason I ask is in Phoenix the city imposes a %2 per month rental tax that is not really advertised to investors.  You also have to register your property with the city as a rental, or you get a nice letter demanding a $2500 fine.  All things I'm looking to avoid when buying in a new market.

Thank You for any help

David Torres · Answer

50-75 bucks per unit in abq.  I have 2 bed 1 bath and 1 bed 1 bath, coin laundry on site

Jens Nielsen · Answer

@Helen Yang,Most owners of smaller to midsize complexes in Albuquerque pay for water/sewer and trashIt usually runs $45-50/unit/month

Helen Yang · Answer

So the REI pays for trash and water?

Matt Gar · Answer

My experience is that water/garbage runs about $45 per unit.

Bud Dwyer · Answer

Sorry, should have clarified I'm paying $80 per unit.  One of my quads has W/D hookups.

Ryan Swan · Answer

That's really cheap for quads! Are there any laundry hookups or coin op on site?

Bud Dwyer · Answer

@Ryan Swan

Yep I got three Quads, all in Phoenix, and one former PM who didn't know about rental taxes.  With Water/Sewer/Trash I'm paying about $80/month.

Ryan Swan · Answer

@Bud Dwyer don't know about water rates in ABQ, but I have a 2/2 condo in Scottsdale and pay about $40/month for water/sewer (trash is through HOA).

Regarding the Phoenix rental tax, my understanding is that you only have to pay AZDOR Privilege Taxes if you have 3 or more rentals (one could be in Phoenix, the others could be in different AZ cities). Other cities have different tax rules and tax rates. Starting last year, all licensing fees and privilege tax are centrally collected through AZDOR.

Here is a link to the rental tax matrix taken directly from the AZDOR website.  It's a little confusing, so make sure you step through it carefully to assess your own tax requirements. No legal/tax advice given here.

Water/Sewer and other costs for Multifamily in ABQ?

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