All Topics / Legal & Accounting / Rental property – as landlord what do I need to pay for?

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  • Profile photo of LLCWLLCW
    Member
    @llcw
    Join Date: 2007
    Post Count: 29
    May 17, 2008 - 1:11 am

    Hullo all

    Quick question for you: as a landlord, am I limited to paying rates, building insurance, telephone line rental and water service charges for the tenant? (Of course this is assuming nothing else goes wrong ie. general maintenance).

    Could anyone clarify this please.

    Thanks!
    Lisa

    Profile photo of austin_hanson2000austin_hanson2000
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    @austin_hanson2000
    Join Date: 2008
    Post Count: 2
    May 17, 2008 - 2:14 am

    I don't think you are limited to pay those fees but this is a general practices. I am an accountant and I found some tenants pay those fees by themselves, it depend on how much you charge for rent.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    May 17, 2008 - 9:41 am

    Tenants ALWAYS pay the phone rental, water consumption (unless it is not metered), power & gas. You pay rates, land tax, building insurance, sewer/water service, initial phone system connection in a newly built premises.

    If it is a commercial rental, then you may get rates, taxes & insurances back if it is a net rental.

    Profile photo of LLCWLLCW
    Member
    @llcw
    Join Date: 2007
    Post Count: 29
    May 20, 2008 - 11:31 am

    Thanks for that :)

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