All Forum Posts by: Ruth Ann Morris

I am considering purchasing a duplex in Sioux Falls, SD that does not have separate meters.  Up until this point, from what I understand, the utilities were included in the rent.  That works great if you own the place free and clear, but to purchase the place, I am having to finance.  Can I pass the majority of utilities costs on to the tenants, and how do I make it fair if say one unit has one person and the other has three.  At the moment, one place is vacant and the other place has a single long term renter.  

Be careful!  I had the same type of situation and spent the next 5 months trying to either get her to pay or evict her.  She finally moved out when the water went out on her side and she couldn't ask me to fix it.  That was a HEADACHE.  If I had to do it over again, I would have it contingent upon her eviction.  The red flag for me should have been that she had not paid rent for the previous 6 months....  I was a naive newbie and thought she would honor my request for the signing of a lease.  Ha!

Thank you for your information.  I currently pay 10% plus first month's rent for the one I use in Florida.  One of the places I contacted did have their own maintenance guys and their rates were lower, but I was not impressed with the reviews they got.  My PM in Florida outsources their maintenance, and sometimes I feel I am getting ripped off.  I have had to question some of the repair costs because I find it unusual to have to replace some of the parts to the water system every two years, when I lived in the house 20 years and only replaced the parts once.  This is the type of stuff I am trying to avoid in Sioux Falls.

I currently live far from where I am going to be investing.  I need to find a good, honest, not going to rip you off, property manager in the Sioux Falls, SD area.  I have a decent one in the Ft. Myers area and would love to find one similar or better in the Sioux Falls area.  Any suggestions on how to find a good one and what kinds of questions I should ask of them?  Also, what kind of cost should I be looking at for?  I have contacted several companies and though some sound good, I am not sure their offers are as good as they sound.  Any suggestions would be greatly appreciated.