At least for me . I am buying a older building in town and turning it into a 4 plex apartment along with two RV sites and a laundrymat . The laundrymat is already in place though it needs some work . I hired a repair company today to get all the machines up and running .
The building sits on a big corner lot with a trout stream bordering the back . It is a chalet type building with 2 units upstairs and two units downstairs when remodeled . I plan to reside it in 8" natural lodge pole log siding to give it a more woodsy,lodge look .
It is next door to a very nice park and pinic area. I plan to put two nice RV sites near it on the one side . It will have all the hookups for code .
I also plan to add 3 apartments to the building where it use to have retail spaces . This is code legal for the area . This building has never been a big money maker as a retail building and the area does not have a single apartment other than the one that this rented long term above my barn .I figure it is a no brainer .
My thoughts are to furnish the units as the gold drilling company has already indicated that they will rent all 4 units when completed . Since they had been staying at the local motel , I figured I would need to furnish the units . Money is not the issue and they will gladly pay more to have them furnished verses an unfurnished unit . Each man is given a $1500 per diem allowance for housing/food each month on top of his wages .
This has led to few thoughts .
1. How much does a furnished apartment add to the monthly rent verses unfinished ?
2. What is the going rate for RV sites with a trout stream outside your camp trailer worth a night/week/month?
3. I am thinking of paying all utilites( Gas ,Water,Sewer , TV, Internet , and electric) as part of the Monthly rent . The only extra chage would be for private telephone which would be billed directly from the phone company to the renter . This has worked very well on my other apartment unit and the gold company likes the "All Inclusive" price .
4 So , I will end up with 2- 2bedroom units and 2-1bedroom units , a laundry matt with 2 coin pay showers units for hunter/campers , two RV sites and a RV sewer dump .
After some reconsideration , I am thinking $700 month for the one bedroom units, $1000 for the 2 bedroom units. $30 a night for the camp sites with hookups( TV, water,Electric ,Sewer,Internet ) , $6 bucks for coin pay showers , $10 for camper septic holding tank dump fee .
I do not want to overprice myself and there are no rentals in the area to be found .
The building also comes with a ice machine that is big enough to furnish cubed ice to the whole area including the local store and gas station , so there could be another income source .
Any ideas that I have missed ? Give me your thoughts on the prices please .
The building sits on a big corner lot with a trout stream bordering the back . It is a chalet type building with 2 units upstairs and two units downstairs when remodeled . I plan to reside it in 8" natural lodge pole log siding to give it a more woodsy,lodge look .
It is next door to a very nice park and pinic area. I plan to put two nice RV sites near it on the one side . It will have all the hookups for code .
I also plan to add 3 apartments to the building where it use to have retail spaces . This is code legal for the area . This building has never been a big money maker as a retail building and the area does not have a single apartment other than the one that this rented long term above my barn .I figure it is a no brainer .
My thoughts are to furnish the units as the gold drilling company has already indicated that they will rent all 4 units when completed . Since they had been staying at the local motel , I figured I would need to furnish the units . Money is not the issue and they will gladly pay more to have them furnished verses an unfurnished unit . Each man is given a $1500 per diem allowance for housing/food each month on top of his wages .
This has led to few thoughts .
1. How much does a furnished apartment add to the monthly rent verses unfinished ?
2. What is the going rate for RV sites with a trout stream outside your camp trailer worth a night/week/month?
3. I am thinking of paying all utilites( Gas ,Water,Sewer , TV, Internet , and electric) as part of the Monthly rent . The only extra chage would be for private telephone which would be billed directly from the phone company to the renter . This has worked very well on my other apartment unit and the gold company likes the "All Inclusive" price .
4 So , I will end up with 2- 2bedroom units and 2-1bedroom units , a laundry matt with 2 coin pay showers units for hunter/campers , two RV sites and a RV sewer dump .
After some reconsideration , I am thinking $700 month for the one bedroom units, $1000 for the 2 bedroom units. $30 a night for the camp sites with hookups( TV, water,Electric ,Sewer,Internet ) , $6 bucks for coin pay showers , $10 for camper septic holding tank dump fee .
I do not want to overprice myself and there are no rentals in the area to be found .
The building also comes with a ice machine that is big enough to furnish cubed ice to the whole area including the local store and gas station , so there could be another income source .
Any ideas that I have missed ? Give me your thoughts on the prices please .
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