All Forum Posts by: Nicolas Sanhueza

Thank you very much, that seems like a really good idea.

The house I am buying comes with tenants that have lived in the property about 10 years paying their own bills, oil included ( I found out today about this) but the previous owner told me they had dried out the tank in the past which led to an expensive repair bill. Now I’ll do some rehab and have them sign a new lease with market rent, which I am afraid it might be too much for them considering the oil during the colder months.

Hi everybody!

I am buying a rowhouse in PA with an oil tank in the basement, I am doing a rehab but my budget is really tight and I don't have enough money to convert the heating to anything else. How common is to have the tenants pay for their oil during the cold months and how expensive can I expect it to be? I am assuming the tank size is average but I don't know much about the matter.

should I pay it myself and factor it on the rent? or should I have the tenant pay for it entirely? or maybe work something out where we pay 50/50?

I really would like to hear your take on this. thank you!!

Good point!! I have the feeling here in Philadelphia is different too, I’ll have to take that into consideration.

That’s a great idea! Thank you!!

I would definitely let the tenants know about my plans for the property as soon as I get their information and the house is mine, Thanks for the advice and I agree, the rehab process would be much quicker with the house vacant.

Hi everybody, This is my first post here in the community so I am kind of excited about it hehe.
I am closing on my first property tomorrow, a single family home (3b/1bth) in Lansdowne PA, the property is tenant occupied and I will be taking over their lease which is month to month basis. I have my contractor ready to go and rehab the property as soon as I close, and he says he doesn't mind working with people living in the house. I don't want to be a dick and kick the tenant out just because I want to work in the property but at the same time I plan on raising the rent from 900 to 1250 (market value) once the work is finished. the lease stipulates that I can give a 60 day notice at anytime for them to leave the property, but at the same time I wouldn't like to hold the project for 60 days and pray that it won't take longer for the tenant to vacant the place.
I was trying to get some advice on how can I manage the situation so I don't end up being the bad guy but at the same time not being too good so they can take advantage of me in the future.

Thanks everybody!