Multifamily Properties Fees

• pet rent

• storage fees

• parking fees

• 
  

• application fees

• one time pet fees

• late fees

• lease break fees

• forfeited deposits

• Property can make up a high amount

• property reassessments (Neubewertungen von Immobiien)

  • reassessed upon purchase

  • reassessed upon sale

  • reassessed at regular intervals

    • every x years

• milage rate (Steuersatz)

• Fixed charge assessments

• assessd value growth

• based on the risk of claim

• areas where natural disaster risk is high and premiums are therefore higher

  • Hurricanes

  • Flods

  • Earthquake

• Plumbing

• HVAC

  • HVAC Costs means all costs incurred in the operation, repair and maintenance and replacement of the systems for heating, ventilating and air conditioning the buildings in the Project including, without limitation, supplies, materials, equipment, tools, and contracted services.

• Roofing

• Windows

• Lighting

• Applicances (Einrichtugen)

• Keys and locks

—> Expenses not Capex ; keep the MFP running not improving it

On site staff

• Lead PM

• Assitant PM

• Leasing

• Maintenance

• Janitor

—> including employment insurance, payroll taxes, leasing commisions, 401k match, workers compensation

• Bank charges

• Meals

• Office supplies

• Dues and subscription

• website and technology

• permits, licenses and fees

• Selling the apartments

• Dependent on location, occupnacy & season

  • Internet advertising

  • moedls expenses

  • resident referrals (Bewohner Bewertungen)

• 3 - 5 % of effecitve grosss revenue / if the property is bigger the fee is normally lower an vice versa

• includes the following activity:

  • bookkeeping

  • financial reporting

  • staff hiring, onboarding and dismissal

  • third party contractor management

• generally in addition to payroll cost for on site staff

• responsible for residential leasing

• Underwriting cushin (Puffer)

• Assumed unplanned capital expenses

• Often expensed for multifamily undwriting purposes

• Generally 250$ - 500$ unit per year

• Dependent on

  • property age

  • recent capital projexts & capital needs

  • property location (depend on weather)

• common areas

  • lobby / leasing center

  • fitness center

  • dog park

  • dog washing center

  • entertainsment center

  • building

    —> are fast outdatet and a sign for the age of the building / first impression

• unit interiors

  • cabinets (Schränke)

  • countertops (arbeitsplatten)

  • flooring

  • paint

  • appliances (Geräte)

  • washer / dryer