patience is a virtue. judgments will usually catch up with people. if the money is not a big deal to you right now (and there are no obvious methods of collection ex: no job, etc.), you can always just sit on it and wait until they need to clear up the matter to accomplish something else (mortgage, loan, etc.).
Put them in. Not only will they save you money, but they will also improve the value of the property. Between appreciation and the annual savings i would bet that the cost is recouped with in a year.
Is your questionShould I install 4 boilers? or is it,Which of these two solutions is better?If it is the second, your question might get a better response in the Rehabber Forum
I suggest putting 4 boilers, and have each tenent a different account. It will be fair to them. For $ 200 additional I think it is a great buy. The way the gas prices are going up, pretty soon you will want tenants to pay the heating cost.
Recently a condo complex where I own a condo, asked us to put a water heater with some line instead of them providing hot water. The complex had a contract made with ta specific guy at $1250 a piece, This year the guy increased the price to $1500.00 (DLR)a piece for water heater and may be 50lf of pipe. So if you are rehabbing I would go ahead with plan B.
I have a property that has a shared heater on two of the units. The tenant with the thermostate keeps it at 90 year round. The other tenant keeps her windows open.
Their lease ends this month and I am installing a wall mount gas heater in the 1 bedroom unit (the other is a three bedroom). I also have to install a hot water heater because they share that too. It is going to cost $3800 but well worth every penny.
I am strongly against taking a rent credit for work done. Pretty soon, they start doing odds and ends, keeping track of them and keep asking for more credits. If they ask for money, keep it clean and simple. Pay them with a check.
patience is a virtue. judgments will usually catch up with people. if the money is not a big deal to you right now (and there are no obvious methods of collection ex: no job, etc.), you can always just sit on it and wait until they need to clear up the matter to accomplish something else (mortgage, loan, etc.).
I know what you mean about being patient.
I have starting researching the ability to post marks on their credit reports to hopefully get my money eventually.
Robert
Put them in. Not only will they save you money, but they will also improve the value of the property. Between appreciation and the annual savings i would bet that the cost is recouped with in a year.
Chris Anderson
Is your questionShould I install 4 boilers? or is it,Which of these two solutions is better?If it is the second, your question might get a better response in the Rehabber Forum
The question is, considering the cost involved, should I separate utilities?
Yes
I suggest putting 4 boilers, and have each tenent a different account. It will be fair to them. For $ 200 additional I think it is a great buy. The way the gas prices are going up, pretty soon you will want tenants to pay the heating cost.
Recently a condo complex where I own a condo, asked us to put a water heater with some line instead of them providing hot water. The complex had a contract made with ta specific guy at $1250 a piece, This year the guy increased the price to $1500.00 (DLR)a piece for water heater and may be 50lf of pipe. So if you are rehabbing I would go ahead with plan B.
I have a property that has a shared heater on two of the units. The tenant with the thermostate keeps it at 90 year round. The other tenant keeps her windows open.
Their lease ends this month and I am installing a wall mount gas heater in the 1 bedroom unit (the other is a three bedroom). I also have to install a hot water heater because they share that too. It is going to cost $3800 but well worth every penny.
I am strongly against taking a rent credit for work done. Pretty soon, they start doing odds and ends, keeping track of them and keep asking for more credits. If they ask for money, keep it clean and simple. Pay them with a check.