utilities/insurance Budget for a 30-yr old condo
- Thread starter donksky
- Start date
- Joined
- Sep 21, 2007
- Messages
- 159
Donna,
From my experience insurance for a condo townhouse is $150/year. This includes covering your appliances and other things that belong to you as well as some liability coverage. The condo board will have their own insurance to cover the structure and have the tenants take out insurance to cover their own personal items.
Repairs and maintanace I usually budget at around $500-$600/year. You usually do not need this much per year so let it accumulate should sometime big go down the line.
As for utilities I like having the tenant pick them up. Utility prices are only going to go up and faster then the 1.5%-2% the government will allow you to increase rents.
Regards,
Ramon Forgiel
From my experience insurance for a condo townhouse is $150/year. This includes covering your appliances and other things that belong to you as well as some liability coverage. The condo board will have their own insurance to cover the structure and have the tenants take out insurance to cover their own personal items.
Repairs and maintanace I usually budget at around $500-$600/year. You usually do not need this much per year so let it accumulate should sometime big go down the line.
As for utilities I like having the tenant pick them up. Utility prices are only going to go up and faster then the 1.5%-2% the government will allow you to increase rents.
Regards,
Ramon Forgiel