Hot Water/Cold Water Expenses In MultiFamily
Hello All,
I recently bought a multi family in Natick, MA and am thinking about renting one of the units. All utilities are separate (heat and electricity) and hence the tenants would pay for them. However I am not able to decide on the monthly rent to charge my tenants as i am not aware about the monthly costs that are associated with hot water/ cold water charges for tenants (3 people).
Can someone please advise??
Thanks so much.
Perhaps you could obtain the past years records for the property and do an average usage per person per unit. This may be possible either by obtaining records by the previos owner, or utility company records.
At least you would have a history to consider.
So it seems this never has happened to anyone.
or has it?