Here’s why you should avoid including utilities in your rent if you can.
A common question I receive is, “Should I include utilities in my rent?” The short answer is no. If you can control it, I highly recommend not including utilities in your rent.
There are just too many variables for a flat rate. You have no idea how much gas or electricity your tenants are going to use. One month they could be frugal, and the next month they could go hog-wild. It’s best to leave how much they’ll pay up to them.
In some instances, you can’t control charging a flat rate. For example, some homeowners associations charge a flat rate for certain utilities. However, if it can be helped, you should try and avoid charging a flat rate.
If you have any questions about today’s topic, please reach out to me via phone or email. I am always willing to help.