Terrific conversation here! Thank you to Everyone who Contributed,
I was able to get the leases a few days ago and looked them over VERY closely! All amounts were disclosed and the security/pet deposits collected will be deducted at closing.
As many had stated, I will be implementing the rent increase mid Spring, when Winter breaks. Then the 'shell-shock' will be more sustainable.
As of now, the leases either expired or were written for month-to-month agreements. The 'hoarders' specifically were allotted 3 cats and two adults, and simply are now breaking the agreement. I am very aware and project that they will not go peacefully in the least, and would like to start renovations with their apartment, as it will surely need the most help.)
So beginning there, I will create a Notice to Terminate Tenancy.
@George Paiva, the meters are already separated, thankfully, however the previous landlord felt the need to pay utilities out of pocket. Each unit has electric baseboard heat, which will be better maintained once in the tenants names. @Ralph R. I understand the question as if they wouldn't put utilities in their name, and if that is the case, the monthly cost will be added to their rent. This is will be added to the lease agreement as well, for our protection.
@Russ M., All of Wisconsin may not put unpaid utility bills on the tax roll, however the utility provider where we are located, Shawano Municiple Utilities, unfortunately does. There is also a landlord revert in the event someone would leave their unit.
@Amanda Palmer, I would be very interested to speak with you more about the steps to be taken if we were an LLC.
So in the meantime, my plan is to meet with the tenants and sign leases compared to their original move in date. I would like all leases roughly end around April, where the worst of Winter is over. In the meantime utilities will be introduced, upon the signing of the new lease. If tenants choose not to agree to the new lease, then we will go forward with the Non-Renewal of Lease and/or Eviction process.
This transition will hopefully be well respected, as we are trying to get the tenants to make the ultimate decision, instead of someone new automatically kicking them to the streets.
:) Thank you All
