All Forum Posts by: Colin Olsen

Thanks, @John Warren - I wasn't even aware it was possible to limit temperatures from the zone valve. I'll have to look into this more, thanks for the suggestion!

@Paul De Luca I'm definitely willing to help supplement somehow, luckily I have a good amount of time to figure something out before the weather cools off again, even if I just provide small space heaters for individual rooms.

My original thought was that most people would be ok with the thermostats since their heat bill is covered. That's certainly a trade off I would make, but I guess I can't speak for other renters! 

@Marcus Auerbach this is really helpful to think about, I appreciate your insights!

Thanks everyone, good stuff to think about here. 

@Marcus Auerbach my general philosophy is to provide safe and comfortable living spaces for my tenants while implementing systems that minimize expenses and maximize income. My goal is not to pinch pennies, it's to manage my property well without letting costs get out of control.

My wife and I recently purchased a three-flat in Berwyn and are house hacking for at least the next year. The property has a single furnace, so we cover gas and heat for all three units (which can get pricey in Chicago winters). I installed programmable thermostats from Chicago Controls which have a maximum heat setting of 71 degrees and revert back to 68 degrees every three hours. 

Some friends of ours think that tenants will be unhappy about not being able to set the temperature to their liking. We think it's the best way to minimize expenses and maintain an energy efficient building. 

Has anyone had issues with tenants being upset about the lack of control?

@Brad Knight my wife and I just purchased our first House Hack in Berwyn. The housing stock here is full of two and three-flat properties and the rental market is strong. If you're willing to get outside of the city I'd definitely start looking around here. I'm not a broker but I'm happy to share more about how we got started if you're interested.

What is the best multifamily newsletter to follow? Are there any that focus specifically on content specifically for new investors and landlords?