[letsbefriends]

Hey guys,

I've tried searching a bit and checking other sites, but I can't find a definate answer so I'll try here.

Long story short: I have been looking for a few houses for my friend, investment wise. I'm European, I work in real estate here and I notice that we do things differently than you guys. My friend, he is based in the US, wants to buy a few houses/condos in the Henderson area. We're not talking high end homes, but basically around the $80-90k mark each.

In turn he wants to rent out these houses immediately after purchase. Let's say the monthly rent for house #1 will be $1000. In Nevada, or the US in general for that matter, what does this $1k include? Does it include HOA fees, electrical/gas, internet/tv etc?

The reason I'm asking is two things really. One, this goes towards budgeting.
Two, here when we sublet an apartment or a house everything is included basically. I'm genuinely curious.

PS. I've tried checking rent listings at zillow etc, but they never specify this in their ads. Thanks alot in advance.

[WestieJeff]

Generally speaking, for a tenant, rent includes property taxes, HOA fees, sewer, and trash.

The reason for this is that the landlord/property owner is ultimately always on the hook for the above items. If your tenant was supposed to pay the above, and they didn't for whatever reason, the landlord would still have to pay it (plus late fees, etc.). In contrast, if the tenant doesn't pay their electric bill, that's between them and the electric company, the landlord doesn't have any responsibility there.

[lvoc]

Westie is right on.

There are some other items that are sometimes included.

Water is sometimes in the HOA fee and is therefore included. Particularly true in condo conversions.

Wise landlords include pool maintenance in the rent. And on deluxe properties landscaping is generally included. Basically you don't trust the tenant with $50K worth of landscaping.

[letsbefriends]

Thanks Westie and Ivoc.

[jlawrence01]

Westie has it right.

As a landlord, you better make some provision for landscaping as that is rarely done well by tenants. Also, you need to budget for repairs and maintenance.

Heat and electricity is covered in some high-rises in other parts of the US, but probably not in many properties in Las Vegas.

[eventusstultorummagister]

Originally Posted by lvoc

Basically you don't trust the tenant with $50K worth of landscaping.

In Las Vegas?

Have you been tinkering with your knobs again...???

Mork calling Orson - YouTube

[lvoc]

Originally Posted by eventusstultorummagister

In Las Vegas?

Have you been tinkering with your knobs again...???

Mork calling Orson - YouTube

Landscape jobs of over 100K are actually quite common. But you put the cost of maintaining it into the rent.

Before you ask there have been 431 rentals at over $3000 per month and 91 over $5000.

[eventusstultorummagister]

Originally Posted by letsbefriends

We're not talking high end homes, but basically around the $80-90k mark each.

Originally Posted by lvoc

Landscape jobs of over 100K are actually quite common. But you put the cost of maintaining it into the rent.

Before you ask there have been 431 rentals at over $3000 per month and 91 over $5000.

How is the spaghetti harvest in Switzerland this season? I hear they're reporting a bumper crop...

[lvoc]

Originally Posted by eventusstultorummagister

How is the spaghetti harvest in Switzerland this season? I hear they're reporting a bumper crop...

And on deluxe properties landscaping is generally included. Basically you don't trust the tenant with $50K worth of landscaping.

One may provide other little tidbits on subject but more than needed by the OP.

[letsbefriends]

Originally Posted by lvoc

One may provide other little tidbits on subject but more than needed by the OP.

Feel free to offer tidbits, it's much appreciated.

Wow, your real estate taxes really does not match the current prices. 4k a year in taxes on a 70k house. That's pretty unbalanced.