Posted by Nate on February 12, 2001 at 21:46:57:
While the actual number will vary a lot according to the location, age of property, what utilities are included, and how efficient the current owner is, I would not say that 37% of gross income is inherently outside the realm of reasonability for a property of that size in South Florida. Although you’ll have to do more research to determine the truth, it is not a figure that’s so low as to raise red flags to me anyway.
Expense Question - Posted by Tony K.(Miami)
Posted by Tony K.(Miami) on February 12, 2001 at 21:00:34:
I am a newbie looking at a property and found that expenses account for 37% of the gross income. Does this sound correct? It is a 32 unit building. Is there any guideline for roughly how much expenses should account for in a multi-unit property? I know the idea is to minimize expenses but I don’t have anything to gauge the numbers against until I see the actual expense records.