How do you handle oil costs in-between tenants?

[Scott K.]

My tenant just moved out. They pay for heating and left with a 300 gallon oil tank half filled with oil. At $3.23/gallon, this equals $485 in value.

I have a new tenant moving in on May 1st that I'll have buy the remaining oil from me, but market price is likely to be lower at move-in date.

My inclination is going forward to specify in the lease that if you end the lease I shouldn't have to compensate.

How do you all typically handle this?

[Peter Mckernan]

I would review the lease you had with the last tenant, if it talks about tenant covering fees on this then I would ask for them to repay you or take it out of the security deposit check. If not, it is a learning lesson and I would include it on all leases going forward so you do not get left holding the costs for you paying them. 

Side note: I would also check your state policy/local policy for what the tenant could be held liable for when moving out.. I.e. fixing holes in walls, ripped carpet, oil replacement at tenant costs.