Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

30
Posts
8
Votes
Davis Stoner
  • Investor
  • NE PA, N. NJ
8
Votes |
30
Posts

How to bill for Well water and Oil heat for multi family?

Davis Stoner
  • Investor
  • NE PA, N. NJ
Posted

So I just closed on my first investment property!

It has been a crazy experience so far and I'm sure it won't stop here.

-Luckily each unit has their own oil tank- What I was thinking about doing was filling it up before the tenants move in and then when they move out I use their security deposit to fill it back up for the next tenant. They are responsible for filling it up throughout their stay. I would have all of this in the lease. Does this sound like a good idea or does anyone have any other ways to go about this situation?

-My other "issue" is all 3 units share 1 well. I am trying to keep the water usage down because I am skeptical of the septic tanks. The town is switching to public water/sewage in a few years so I just have to make it till then. Does anyone have any recommendations for easy to use/install submeter companies? I would like to put the meter on 3/4 pex tubing if possible. 

Thank you and I appreciate any and all advice!

  • Davis Stoner
  • Loading replies...