Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
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 8 years ago on . Most recent reply

User Stats

66
Posts
11
Votes
Peter Morrissey
  • Rental Property Investor
  • Syracuse, NY
11
Votes |
66
Posts

One boiler for five units?

Peter Morrissey
  • Rental Property Investor
  • Syracuse, NY
Posted

I have an opportunity to purchase some properties before they are listed. one of them is 5 units but only has one heating/electrical. It is zoned for the five units. It is a boiler which I am told is generally more efficient. There is a cost listed for the utilities, and I can ask to see bills to verify. So in the end it is just a matter of figuring out what rents I could get in that area which is pretty nice. I can  handle all of that, but just wondering what complications having one heating system could cause. Concerned that there would be difficulties for each tenant to regulate heat to their liking which will also vary by prevailing winds as it does in my house. More drafts on the north/west etc. I grew up in a house with radiators and it did have a valve that could be adjusted so maybe not a big deal?

I also think advertising the price could be an issue. If I have to pad it say one or two hundred to cover my costs, it will appear higher on a search. I suppose I could advertise the price w/o heating and then in the add clearly state that heating/electrical is an additional flat fee and list it. I also don't want to do anything misleading or illegal.

Any other pluses or minuses for this approach? Only one heater to maintain might be a plus although boilers cost a lot more to replace.

I hope to view the property in the next day or two.

I am aware that I will need a commercial loan due to the five units.

Pete M.

  • Peter Morrissey
  • Loading replies...