All Forum Posts by: Peyton LaBarbera

Quote from @Bill B.:

Some/many utilities have a “landlord plan”. Any time someone stops the utilities they automatically go back in to your name, this is ideal to save time and in less fortunate areas, prevent pipes from freezing. 

If you can’t get access to the preferred method you call water, gas and electric companies when you know they are moving out and ask for them to be put in your name. BEFORE they are turned off, to save disconnect/reconnect fees, delays, and being forced to be at the property for turn on. 

Then, you hand over the keys to the new tenant, AFTER the utilities have been put in their name. 

What happens if all of the sudden my tenant decides to shut off the utilities lets 1 month before the lease term ends then it gets put into my name and now I am paying for their last months utility bills which in the lease agreement clearly states that they are responsible to pay their utilities and I can not be burdened with covering those costs because of the tenants failure to pay

In this case am I allowed to take those unpaid utility bills and deduct them from the security deposit?

@Matthew Paul and at what point in the process of my old tenant moving out do I transfer it to my name, after they move out?

Also what happens if I only have the unit unavailable for lets say 1 week then a tenant moves in due to small repairs that are needed to be done

Quote from @Matthew Paul:

Call the utility company and have them put in your name 

Then once I get a new tenant move it to their name correct?

My scenario goes like this... lets say a previous tenant just moved out and now for the next month the property is listed for rent, finally someone moves in but for that one month no one is living in that unit and only is being used for walkthroughs and repairs that are needed.

So in this case how do I set up for utilities to be paid by me if when a tenant is renting the apartment they pay for the utilities on their own (besides water and sewer of course)

Thank you to all that reply

Great thank you all for the great information!

Of course I would use a property manager but instead of having to fly out just to sign the Purchase agreement I was hoping this would work 

I was wondering if I could use power of attorney of property since I want to buy better cash flowing property out of state but I don't want to fly back and forth every time?

Ok so from my understanding you should make sure you have the funds to back up these loans so incase they do call them to be paid in full you aren't stuck in a bad situation, thank you very much for the helpful information.

By commercial do you mean a blanket loan?

Also what types of loans will be with the new lender when you transfer your properties to a portfolio or blanket loan?