Student rental expenses

[Salvatore Giancola]

Hello BP world,

I'm trying to run some numbers on a student rental we're hoping to put an offer on.

Issue is, I really don't know how much to factor in for utilities (water, gas, electric). I guessed at $400/month but really don't know if I'm way under or over.

I know this greatly depends on the house and the tenants, but just hoping for way to get a decent budgeting number.

Brief summary of the student rental :

1 + 2 bed duplex, with a third unit in the basement, 3 kitchens 2 laundrys, 3 bathrooms. 2.5 story. Estimated about 1600 sqft.

Any advice is appreciated.

[Huong Luu]

@Salvatore Giancola Does the property have separate meters? If so, you can reduce the utilities by having the students pay this directly themselves. When I compare these to the 3-plexes I have, $400/m is on the lower end. You can ask for the expense roll prior to offer or you can put in an offer with the condition of receiving and approved review of the last 12 months/24 months of expense roll. Good luck