Multifamily- Prorate or switch from boiler to electric heat

[Dave Reeves]

I recently purchased a Multi-family 4 unit that currently has a new gas boiler. Property managers in my area are telling me to eliminate the boiler and install electric baseboard heat in the units and have the tenants absorb the expense through their own electric bills instead of supply on the house.

1. What are your thoughts on this approach?  
2. Would prorating from the utility company on an Equalized Bill based off historicals and leaving the boiler/system in place be a better strategy?  
3. I'm worried about fire risks with baseboard heat, meaning that tenants would need to be knowledgable about drapes, bedding, furniture, etc being in close proximity to the baseboard units. 
4. It's an underperforming property, so any fair strategies to eliminate expense and pass on to tenants to make them accountable I am wanting to do. Currently my thoughts are as follows:
   
   • 4 stall detached garage (solution:  charge $50 per stall)
   • Add coin laundry (solution:  ~$1200/yr)
   • Raise rents to market area  (past owner hasn't raised in 12 years)
   • Optional fit out for 5th unit that is currently used as owner storage
   • 4 separate storage units in basement that are in use, but not being charged for