I am looking at a 45 unit apartment complex.
The monthly income is $26,000 and the expense total approx. $14,000 per month.
I have a hard money lender that tentatively said they can do the deal.
the new mortgage will be about $9700 per month.
Part of the monthly expenses is that the current owner is paying for gas, which is about $3000/month.
Is there a way that I can get the renters to pay their own gas?
thank you,
mike uhrig
Each unit needs to have its own gas meter. If the units do not already have seperate meters then the cost will be prohibitive. So the real question becomes are there seperate meters?
hello everyone… hope u’ll be fine, im new on this forum, find it so interesting so far…
More than likely these apartments are not individually metered. If they are not individual metered…
You can bill the tenants by dividing up the “average” gas bill between the units. Just write it into all new and renewal leases that the tenant will pay the gas bill, you will bill them directly and its due with the rent each month. You can calculate how much the average is bill is pretty easily, based on the number of units or square footage of each unit (one figure is more accurate than the other, but you can do what you want as long as it’s properly written into the lease).
You can also bill ALL tenants a flat fee per month for gas, say $3000 /avg divided by the 45 units, or $67 a month. Some months you will earn extra cash, some months you may pay extra, depending on their utility costs. BUT - you must write that into the new and renewal leases - not the old leases.
Have your real estate lawyer (or consult with one if you don’t have one) put the proper wording into your lease for your state, to make sure it complies with all laws.
Most states now allow for you to “shop” for natural gas via wholesalers for commercial properties. Might I suggest you taking a look into that as a way to lower your monthly gas costs.
lol.
An apartment or independent housing that occupies only part of a building.Such a building can be called a residential apartment house, mansion or a block, especially if it consists of numerous apartments for rent.Living in an apartment complex may have several advantages over other options such as renting a house, a section of someone else, or an apartment in a house of multi-family dwellings.
Evidently, “water damage,” and “jyorjmark” both attended the “Register and Immediately Post Strangely Worded and Obvious Statements On Forums For Profit” seminar.
:bobble
In the apartment complex manager is responsible for ensuring filled, the repair is completed, as well as investment income the owners responsible for maintenance. Apartment building managers often find their duties in more than a week. Property management, whether it is property management companies or owners directly.
Don’t you have anything better to do than to post jibberish on an internet forum???
These people all attended the same seminar on how to market their affiliate websites using open forums, facebook, twitter, and all/any other social networking/communication venues. They post gibberish all over the net, wherever there’s a place to post. The posting part is the most important part, not the content part.
The object is to get you to click on their links which are quite clear what they’re about. It could be the same person for all we know, who is promoting several affiliate web sites. From what I’ve observed they don’t regularly respond to questions either. It’s mostly a one way street.
I was beginning to think there was some sort of secret society here that understood all this “and proper way to do this is through completing the task at hand xxxxxxxxxxxxx” which sound like it came from a high school text book,and its not from one, but from many different people.
I didn’t think that many people could be that dumb
I’ve got a little more insight into this… The website owner(s) use VA’s to do their marketing/posting. It’s all the rage. Hire a virtual assistant to make posts on blogs and forums related to the industry of the web page you want visited. And then viola, instant traffic generation to their sites… for about $1.50 an hour based on previous experience(s).
See.