Operating Expenses and Multi-Family Rental Property
We know. Expenses aren’t the fun part of owning multi-family property. But until the expense fairy appears and magically pays for all of the costs of your building, we better get real with it.
Here’s a list of some of the most common operating expenses. When you’re considering purchasing an investment property, often the seller will provide these numbers. Best to take those with a grain of salt, but at least it’s a start. Otherwise, you’re going to make your own assumptions. At Green Light Real Estate, we can help with these assumptions.
Heat and/or hot water
Water and sewer
Snow removal and lawn mowing
Trash and recycling
Maintenance and repairs
And you never know, your building may have other expenses that aren’t on this list.