3 sources of heat or go back to just 1? tenants pay or I pay?

[Sean Larson]

Hi all,

I have 3 units in a house in Grand Rapids, MI. The first floor unit is still run off a boiler in the basement. The upstairs units are run off of two different furnaces in the attic. The tenants each pay for their respective heat bill. Nice right? or is it? 

A friend has proposed going to water heat in the top two units (lines are still there) and I pay the bill because then I don't have to replace 2 furnaces and a boiler when that day comes. The furnaces in the attic are also causing enormous ice damns on the roof which is causing serious problems in the winter with my historic fascia etc etc. 

Any feedback? I just read https://www.biggerpockets.com/renewsblog/2015/09/1... that made a good point at the value of new heat. 

I can see the "value" in both sides so what does it come down to?

Thanks,

sean