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Short Wave Sportfishing

On Thu, 11 Oct 2007 19:39:49 -0400, "JimH" ask wrote:

"Short Wave Sportfishing" wrote in message
.. .
On Thu, 11 Oct 2007 23:10:15 GMT, "JoeSpareBedroom"
wrote:

Never mind. The other option is to just let the windows go to hell, and
replace them with modern ones sooner than I wanted to.

Best move I ever made.

I replaced 31 of them in one of our apartment houses to the new vinyl
type.

Saved me a ton of money on heating costs.

Your tenants do not pay for their heat and AC??

Nope - it's in the rent.

Expenses are controlled by usage. We allow a certain amount of
kilowatts and gallons of oil. If they stay under that amount, they
are golden. If they go over, there is a rent surcharge for what they
used plus 5% for the annoyance factor although it's not called that in
the rental agreement. :)

You don't make your money on rents I'll tell you that much. You need
to have a lot of apartments to make money. We make tenants pay for
rental insurance for example while we carry the overall fire and
liability insurance. They have an option of riding on our policies or
getting their own. And with taxes, town usage taxes like water and
sewer plus property taxes you are lucky if you make a couple of
hundred dollars as "income".

For investors like me, it's more about improving the property and
making the units pay for themselves waiting out the enivitable
increase in property value. People have to live somewhere and it's a
good business if you can make it pay for itself and we've managed to
do that.