Apartment Investors Not All Multifamily Rental Buildings Are the Same.

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Real Estate Sales Representative with RE/MAX Camosun Victoria BC Real Estate BC Licence #001159

Apartment Investors| Not All Multifamily Rental Buildings Are the Same.

 

Multifamily Apartment rental properties are not all the same. By that I mean, they often have different suite mixes i.e, One bedroom suites, Bachelor suites and Two and Three bedroom suites and often all of these types of suites are in an Apartment  building. I have found a mixed suite mix the most popular with Investors as opposed to a building with all one or two bedrooms or bachelor suites.

Apartment Investment

And a lot of these buildings are heated differently, and some  owners include the heating costs otherwise the tenant pays for their own heating inside their suite. Common areas such as hallways are heating costs borne by the Apartment Investor owner.

Apartment Investors you’ll find most new Multifamily Apartments now have electric baseboard heating or heat pumps( with a Heating and Cooling feature), for heating the building and each individual tenant suite. With these type suites the tenants pay their electrical heating cost.

These electrically heated suites will have separate electric meters so the hydro consumption is measured by BC Hydro in British Columbia and the Hydro use is billed separately to each tenant in the apartment complex.

 

Many of the Older Apartment have a central hot water system and the common area  heating cost is paid by the building owner. Usually these types of Building use Furnace oil or Natural Gas for heating the domestic and hot water for heating the entire building.

 

Depending on a local Rental Market, Landlords may sometimes pay a tenants heating cost to attack or keep tenants.

 

Apartment Investors as you can see, not all Multifamily Apartment Complexes are the same.

 

Most Apartment  Investors and Owners talk about Multifamily Apartment Values, when considering buying or Selling a Multifamily apartment. They will often refer to the local CAP rate (return on investment after operating expenses) and or some also count a asking price based on Suite per suite price i.e. $200,000 per suite or rent per square foot i.e. $2.50 sq.ft. and often all of these. This information will be available from a local experienced Apartment Realtor. 

Investors and Apartment Owners See my YouTube Video on “How to Calculate CAP rate for Multifamily Apartments PART ONE  and PART TWO ”.

Apartment Investment CAP Rate CalculationSource

Apartment Investors| Not All MultifamilyRental Buildings Are the Same.

 

 

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Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Fred Carver Personal Real Estate Corporation if anyone is thinking about purchasing an apartment building, the only agent to call for that is Fred Carver.....he has a firm handle on that phase of the real estate business....

Feb 27, 2020 05:27 AM #1
Rainmaker
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Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Barbara Todaro Thanks for dropping by and your kind words. Have a fun and successful day!

Feb 27, 2020 09:00 AM #2
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