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Updated over 2 years ago,
Utilities paid by tenant? Chicago
Good evening BP community, I’m checking in to get a few thoughts related to utilities being paid by the tenant. What’s the standard in Chicago for what utilities tenants are responsible for these days? I have a multi-family property in the East Side neighborhood. Tenants pay own electric but building also has individual furnaces. When I bought Previous owner was paying for heat but had “Lockboxes” on thermostats in units to minimum 68 degrees. Should I remove lockboxes and push costs to tenants? I suppose I should also ask myself if that costs would push them “over the edge” from being able to pay rent. Also is anyone charging individually for water/garbage, on top of what they collect in rent? Just wondering how you’d assess that accurately. Building is 2 unit plus garden unit. Any insight is greatly appreciated!