Hello everyone!
My partner and I recently purchased a 3-family rental property. The first floor of the property used to be occupied by the owner, and the other two units were rented. We will be renting out all 3 units.
There is an underground oil tank that is currently used for heating and hot water. We will be taking the tank out and switching over to gas, but it will cost an exuberant amount to separate all the utilities so we have no choice but to leave the heating and hot water on the owner's (our) meeter. The plan is to put in a Nest, or similar, thermostat in the whole way (under a lock and key) so to be able to control the temperature from wherever.
As we cannot breakout the hot water/heat to each unit, would anyone have any suggestions as to how we can pass on this cost to the tenant? Building the cost into the rent is one way, any other suggestions?? Anyone dealt with this before?
Would be grateful for any advice! Thank you!!