Determine rent amount with heat and water included

[lgrossi]

I have a townhouse for rent (about 1,044 sq ft) in Castledowns (164 Avenue and 109 Street). Most of my comparables for rent are townhouses that do not have heat and water included and current rents are about $ 1,295.00 per month. I`m guessing that I should charge about $ 150.00 more. Any thoughts or if you have a townhouse, do you know how much are the heat and water monthly amounts?

Thanks in advance,

Luciana

 

[jeffjas]

QUOTE (lgrossi @ Feb 11 2009, 04:04 PM) I have a townhouse for rent (about 1,044 sq ft) in Castledowns (164 Avenue and 109 Street). Most of my comparables for rent are townhouses that do not have heat and water included and current rents are about $ 1,295.00 per month. I`m guessing that I should charge about $ 150.00 more. Any thoughts or if you have a townhouse, do you know how much are the heat and water monthly amounts?

Thanks in advance,

Luciana


Have you tried going to the utilities and asking them for the history of the heat and water charges. They should be able to provide you with 2008 amounts or at least the monthly/quarterly avg.

 

[Thomas Beyer]

QUOTE (lgrossi @ Feb 11 2009, 03:04 PM) I have a townhouse ... do you know how much are the heat and water monthly amounts?

heat and water in an apartment building per year is about $800 to $1000 .. so a tad more for a THs .. say $100/months

why would you not have the tenant pay it ? Then they have an incentive to reduce heat and water consumptions .. and don`t have a hot bath 2x/day on you !?!?!

 

[invst4profit]

In general it is not a good idea to have utilities included in rent if at all possible.
I can not understand why people open a window in the winter and crank up the heat.
Even good tenants can be irresponsible but bad tenants can be vindictive.

It is not unheard of for tenants being evicted to leave the hot water running for a month and all the windows open with the furnace on high.

 

[lgrossi]

Thank you for the replies. The heat and water are included in the condo fees. So, I do not have a choice to change that.

Luciana

 

[Jason77]

QUOTE (invst4profit @ Feb 12 2009, 06:32 AM) In general it is not a good idea to have utilities included in rent if at all possible.


Why is this? Thanks.

 

[Thomas Beyer]

QUOTE (Jason77 @ Feb 17 2009, 05:58 PM) Why is this? Thanks.
because there is no incentive for tenant to take a shorter or colder shower or turn down heat .. hey its free !