How do I find exact rental expenses

Question

Hey, I've started looking around the real estate recently, I tried to analyse a couple but now the question has been going around my head which pretty much sums up to where would I find the information about the rental expenses such as house insurance, taxes on the property, water, gas, electricity and any other expenses that I might have missed out. I see people talking about expenses, ratios and techniques but nobody goes into detail into how to calculate a specific expense.

I am located in the UK if that helps and the rules for real estate are a bit different here.

Thank you all for commenting!

I am located in the UK if that helps and the rules for real estate are a bit different here.

Thank you all for commenting!

J. Henriquez · Answer

Hi @Hubert Pruszynski,

Homeowner's Insurance - I would reach out to an insurance broker in the area you are looking to invest in and ask what rates would be for a few specific homes within different price ranges, so you can get a feel for rates in the area.

Property Taxes - Local property tax rates and specific property tax amounts owed for properties should be public records. I would search your city, county, and state public records for specific tax information.

Utilities - I would reach out to your friends that own properties in the area you are looking to invest in and ask them what they pay for water, gas, sewer, trash, electricity, and HOA. Write those down and figure out an average amount for each.

Hope this helps! Good luck!