All Forum Posts by: Michael G.

@Cliff T.

Yes. We wait until their existing lease expires, and then respectfully explain that, with the new Lease, if they wish to stay, they'll have to agree to pay for what they use.   It hasn't been an issue yet.

@David A.

We always fully pay the Utility bills as soon as they become due, and then add the pro-rata cost to each tenants' monthly rent bill as "Added Rent."  Added rent is treated exactly like normal rent.

If you PM Me, ill send you a sample spreadsheet we use.

NEVER never give more than 20%. Period.  If he/she is unwilling, pass.

@Ross Hamilton

Any "revolutionary new real-estate investment service" that expects to bilk me out of thou$ands of dollars, up front, without offering a limited free-trial sends goose-alarms down my back and will get my spidey-sense tingling faster than a hound-dog licks its rear.  

Sorry.   Pass. 

(Would a 10 or 15 day free trial kill ya? If you're so confident in your product.... )

@Michael Ablan

Good on ya, & good luck!  

@Patrick M.

@Patrick M.   Why poison the well? and anyway, who & why are you even fighting? My OP was simply to try to HELP fellow Landlords & PMs.    Your post:  churlish.  If someone has something intelligent or constructive to add,  I'll happily respond.  (emphasis on Intelligent.)  

Enough said.

@Dennis M.  @Patrick M.

Respectfully disagree.  In our world view, tenants are sentient human beings, and smart enough to understand our deal and its benefits. IHMO, you are enabling your tenants to take advantage of you by allowing them free, unchecked & unfettered use of services that (only) they use.  The way we run our buildings, WE run the show and WE dictate the terms, not the tenants and we don't allow tails to wag our dogs. Utility wastage dropped a full 40% after we made tenants start paying for it themselves.

We personally interview all our tenants and openly discuss the terms of the deal with them. If they wish to live in our very-nice, well-run apts, and benefit from lower rents for what they're getting (and so better value for the money) they get used to paying for the services that they use. Quickly.  It's never been an issue. Not once. All I can tell you, folks, is that the problems you forsee do NOT happen.   

My wife has a great T-shirt she wears when slaughtering her opponents in tennis (she played varsity): "Excuses suck." If you want to fabricate & invent reasons why you shouldn't take your Landlording business to the next-level of profitability & efficiency, and save gobs of money while helping to conserve the environment, so be it. I can bring you water, but I can't make you drink. 

As for the "other Landlords don't do it, so neither can I" excuse, all I can say is that when they find out how much money you're saving by recouping your utilities, they'll start doing it. Fast.  (As Sergey Brin-Google / Howard Schultz-Starbucks / Jeff Bezos-Amazon / Bill Gates-Microsoft all said: "Someone had to be first, so why not them?")

The smartest landlords on BP have already emailed me by the dozens for my Sample RUBS spreadsheet in order to implement it themselves. Many more will do so after reading this post. Trust me. And I will share it, gladly.    

All I ask is :  Please, Pay it forward.

To each their own ... What works (very well) for us, may not work for others...

I know that I cant do, will ask some of my colleagues ... Suggesting you give people approx 10 days to 2 weeks advance notice.... 

@Thomas S.

Thomas - What on earth is "T C O T P"   ?     Been racking my brain trying to figure that one out!