Insurance - $4,000
Water - $5,000
Taxes - $16,500
Cleaning & hallway maintenance - $1,000 per year.
Checkers is covering up to $2000 of the water bill.
Checkers is covering 50% of the total tax bill of $33,000
Hallway lights covered by checkers.
Sweeping, frontage, and snow removal by checkers, street tickets too.
Trash collection also on checkers.
* Bear in mind that the property has capital improvements well above $750k.
* The electric downstairs alone is upwards of $250k.
Each unit has separate everything. Separate gas meters, separate electric meters, independent heating hydronic systems, different water heaters. Everything is inside the individual units.
They are located in closed mechanical rooms of which there are four, one in each space.
Fuel is all separate and individual. The only ordinary expense is water.
That’s quickly resolved with individual water meters.
Total Landlord’s expenses portion is $24,500