How do I calculate Fixed Landlord-Paid Expenses? Orlando, FL

Question

I'm analyzing deals in the orlando area and am having trouble finding out the fixed landlord paid expenses, I searched around to get the average bill for a 4 bedroom but I'm not too sure how to be certain I am doing it correctly

Melissa Gittens · Answer

Hi @Nicholas PatricioI would suggest calling the local electric company as well as water company too. Those utilities tend to be expenses the landlord would incur along with any repairs that will come out throughout the time of the lease of the apartment or home.

Kaizen Christian · Answer

In that case, regarding Cable, Internet & Phone. You have to check out which provider services that address: Brighthouse or Comcast. This is easily done by entering your prospective address on their website. I like Comcast better and when I checked a couple of months ago, they had faster internet packages than brighthouse. I didn't pay much attention to Brighthouse, but I currently have them in my apartment for internet only 35 mbps My total cost with tax is $45 including the wifi router fee. I don't have cable.

You should be careful with both. Comcast has great promotional packages but they come with a contract, 1 yr or  2 yr. The promo rate may be good for the first 12 months, and then the price jumps significantly after that. Keep in mind that there are extra monthly charges for every box/HD cable box as well which isn't included in the promotional rate. #readtheconditions

My boyfriend actually has a 2 story 5 bed 2 bath home with 9 occupants including kids. He's house hacking to his family.  However, I will see if he will let me snapshot his bill for you later today. A few months a go we did an average of all his OUC bills (electricity/water) going back 1 year and got $286. Maybe someone with matching occupancy can give you a better quote.

Hope that helps.

Chris Romany · Answer

The current medium sale price of a house in Orlando is $182K.

Nicholas Patricio · Answer

I'm going to house hack a property so I'm renting out individual rooms, rent will include utilities, I'm trying to figure out the median cost of a 4 person home in Orlando @Kaizen Christian

Kaizen Christian · Answer

Do you intend on supplying your tenants with internet? The most I've seen offered is trash and water, unless it is a room for rent in someone's house. I have heard of apartment complexes offer a basic cable for an added cost to the tenant. Tenants normally have to call OUC to set up electricity.

This is coming from the perspective of a renter.

Chris Romany · Answer

Are you talking about property prices?

Nicholas Patricio · Answer

@Chris Romany

I checked and couldn't locate anything about prices, where would I normally find it?

Nicholas Patricio · Answer

@Jeremy Shinall I am trying to calculate mostly basic utilities and internet

Jeremy Shinall · Answer

Hi @Nicholas Patricio. What kind of expenses were you trying to calculate? Are you considering providing some amenities, like water or internet service?

Chris Romany · Answer

Nicholas,

Check the Orange County Property Appraisers website,  search any address in an area you are interested in, as there really is no 'average'.

Hope this helps.