Updated over 7 years ago on . Most recent reply
Please help me analyze this property
Hello,
I am reworking the numbers on this one. It is a 5-plex and rents are below market value. Owner is currently paying water, sewer and garbage, but I excluded those expenses and instead will make that a fee for the tenants to pay and added it under other income. My capex and repairs are at 7% while property management is at 15% because it's an older home and repairs may be more frequent and PM will cost more than me doing it myself. The numbers look decent but should I increase anything and is it normal to come in and hit tenants with a fee that they currently don't pay (water, garbage and sewage), which would be an $83 fee. I don't want to pay it and when residents pay water they will be more conservative with it and several of the units have washer/dryer hookups, but no washer and dryer. Thoughts??? Thanks so much!
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