Snohomish county expenses

[James Haffner]

Hey everyone!

 I'm in the Snohomish county area looking to purchase a rental home. Mainly in North Everett & Lake Stevens.

I was curious of the expenses to expect when purchasing and analyzing.

I understand some investors pay for utilities and some don't. I'm really trying to avoid paying for utilities, or at least breaking it up fairly. How is that usually worked out?

Do you typically pay for utilities on a SFR? What about a multifamily home?

If so what's the average on the expenses that you see on your rental properties?

Electricity, Water, sewage, etc.

Also, what do you find the average rents to be? I've been seeing an average of $1.00/sq. ft.

Does the amount of rooms and bath have an affect on that?

Is there any features your seeing that really boosts the rent, or that people really want?

 I'm also looking at 3 bed 1 bath homes due to the price you can find them at. Does anyone purchase those and have success renting them out?

 Do they go for a lower rent due to the 1 bath?

Thank you again!

[Account Closed]

@James Haffner I own and manage numerous multifamilies in North Everett. So I can answer your questions as it relates to multis. 

SFH tenants traditionally pay utilities and are responsible for landscaping. Multis, landlord/owner is responsible for Water, Sewer and Garbage though this can be charged back to the tenants. Tenants are responsible for electricity.

We are seeing rents from $1.10 to 1.60 sq/ft depending on size and location of unit.

Garages can really boost rents as folks looking for a garage usually MUST have a garage.

Good luck with the house hunt!