What would an expense ratio be on a small park.
I have heard Parks around 20 units and under can run up to 50% expenses.
-34 lots -25 occupied lots at $220. Most are owner occupied. -Park is fairly small with not too much to mow. -Fairly low property taxes in the state. (Only 1.25%) -Water is submetered. City water/sewer -Has a few more lots to fill, but the mowing on empty lots is fairly minimal.
What would be the rough expense ratio?
Submetered so 30%
Smaller park so 50%
Cheaper state and submetered and not that small so 40%???