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Updated over 3 years ago,
House Hacking Utilities Bill Questions
Hello Investors!
I just started my house hacking journey and wanting to get some opinions on being a landlord. As a beginner, I bought a house with in-wall heater units that aren't very efficient. The electricity bills come out to be around $350 during the winter months (I am in central Oregon btw). The total utilities expense is around $400 - $600 every month! I have several questions:
1. Should I charge higher rent that would cover all utilities (or some utilities except electricity) or split utilities bill evenly with my tenants?
2. Should I replace the in-wall heater with something more efficient like the AC-Split System unit to increase the value of the house and attract more tenants in the long run? (I am guessing that not a lot of people would want to pay $600/month for utility)
Thanks,