Hello BP,
I have recently purchased a triplex (which was converted from a SFH). Its a 2bd unit on the main floor, and two 1 bd units in the lower level (formerly walkout basement). The utilities (water, electric, gas) are all single metered and would be a significant undertaking to separate them out. There is one water heater, furnace, and A/C which serve all three units. The thermostat is controlled by the main floor unit. Utilities are currently included in the rent, and for the purpose of this post I am not considering separating out the meters.
All three leases are due to be renewed in September and I am curious if there is anything I can or should include. The tenants in unit 1 include 3 adults and I assume use a majority of the utilities. I do plan to raise rent for all three units by $15-$25/mo to keep up with the market. All three units have long term tenants. I do not expect any of them to leave, and also do not want to push them out.
Items I have considered but not yet committed to in order to lower the cost of utilities:
- Swapping out current incandescent and CFL bulbs for LED. Also potentially swap out a few fixtures for LED ones.
- Add thermostat lock box. The few times I have been in there I have not noticed it way hot or cold, but who knows when I am not there.
- Replace current A/C which is from the '80s
- Add insulation in the attic (this was noted in the inspection report)
My utility company will not provide historical usage due to "data privacy" so I am starting from scratch.
To summarize my main questions: 1) Should I add any terms in the lease, and 2) Any other suggestions on conserving energy when I don't live there?
Appreciate any input you'd provide!
