Updated almost 5 years ago on . Most recent reply
Rebilling utilities back to tenants
Hello! My husband and I have 20 units that all had tenants when we purchased them. They are in leases with the previous landlord, but most of them have expired which means in my state that they automatically become month to month. The former owner didn’t increase rents annually and he also paid all utilities, so these are significantly below market value. I would like to start the process for billing utilities back to the tenants, but I have some questions. I will double check with my lawyer, but I believe I just need to give them 30 days notice. Has anyone done this? Do you figure that month’s utilities as the bills come in, and tack that amount on to the following month’s rent bill? Do you distribute evenly by the number of units or per adult? Is there an app or software to streamline this? I know this is an easy way for us to instantly start making back $3k a month but am a little unsure on how to go about it. Thanks in advance for any advice!