There are many things to look for when buying an apartment building. One thing to look for when buying a property is the utilities. To rent out each apartment you must have electric meters for each apartment. If each unit does not have its own electric meter you will have to pay for everyone’s electric bill. To get around this you can charge a higher rent and include electricity with the rent. The down side of doing this is if the people or families you’re renting the property out to know they don’t have to pay for electricity they won’t be shy about using it.
In some cases the electric bill can be so high that you can lose money every month. Another thing to look for when buying an apartment building is the units. If the apartments are small it will be harder to rent out. One other thing … Read More