All Forum Posts by: Rick M.

My vote is for the hammer and jar of sand

Lawyer up Son!!

Thanks for the reply Ann, it all worked out. With some back and forth arguing he did end up paying his portion of the bill. I have an attorney on deck that I used to go to school with that helps me out and if I needed to evict he would be the first person I turn to, I hope I never have to evict someone but not paying what you owe is a pet peeve of mine. But realistically I know I might have to one day.

Yes water can be sub-metered as long as I don’t profit from it directly. I do have a late fee if they don’t pay up on time, but that’s more incentive to pay me so I can pay the water company. The bill for the building comes to me so I pay it directly so the buildings water doesn’t get turn off but I do have it in my lease that if it was to get turned off that I’m not liable because they have to put the utilities in their name.

I had meters installed so I read the meters and do the math percentage wise to get how much each unit uses so everyone is happy. If someone is using their water for car washs or other such activities (I don’t have a lawn with this property it’s all pavement so we don’t have sprinklers haha) then they would be billed accordingly. I wouldn’t want someone who is doing the right thing, being conservative with the water, to get billed for someone else carelessness, hence the meters

I bought a quad in Rye last year and it’s been reasonably smooth sailing until about last week. In my lease I have it that tenant pays ALL utilities; I have the water metered so I have to charge back the tenants every month. Read the meter, break up the bill as usage, and post to Cozy. I have one tenant that has paid the bill but only after being reminded over and over again. Well tomorrow is the last day of the grace period and he hasn’t returned any calls or text about paying, the outstanding water bill. So I have contacted my attorney, and as I type this he’s, drafting up an eviction letter stating breach of contract and he has 7 days to pay the bill or the real eviction will take place. He has paid this months rent but not the water bill. Has one else had this scenario happen to them? Thanks BP 

What I look for are first number units also if the Utilities are separated. You NEED separate utilities, especially if you are going to build a fresh new building, whatever it may be, make sure each unit is responsibly for their own utility usage.

On a serious note you have a right to be concerned. I wouldn’t want my tenants to know my personal address either. I would use Cozy.co that’s what I do, as a matter of fact that's a requirement that needs to be fulfilled before I even rent to a tenant, the tenant doesn’t feel like they are renting, at least that’s what I tell myself haha, and are less likely to show up unannounced at your personal residence. But at least, in your scenario, they are paying the rent, it could be worse they could be actually harassing you and your family on top of not paying rent.

 This is the best solution to be honest haha

I don’t have to pay back my lender or taxes!! I guess I’m late to the game on this one. Idiot me playing by the rules.

Having utilities included in the rent isn’t an option that leaves the Landlord open for liability for over use of said utilities. My current property I bill back the tenants so that’s not the issue, I would rather the utility company themselves bill the tenant, thats something I don’t want to have to deal with plus the Duplex is crazy overpriced. I would think doing a reno that being an investor you would want to cut expenses as much as possible. I’ll look into RUBS but I think I’m going to pass on this Duplex its a shame it because it’s a beaut.

I’m looking at Duplex the current owner did an “up-to-date” renovation. I would assume splitting up all utilities so the owner doesn’t have to pay any of them, in my opinion that’s the first thing that needs to be done with these older multifamilies but I digress, but apparently this owner enjoys paying for the heat and water..My question is if I was to buy this property, these are the two pictures my agent received from the buyer’s agent, would this be a challenge worth taking on? I want to separate the heat and the water. I know the water is only billed per property so I do plan on billing that back to the tenants (through Cozy.co) but the heat is my main issue. Tell me what I can do, I know about RUBS (I haven’t ever used them but I am willing to if necessary), I do want to put meters on both the water and heat. Be brutally honest I want to know if I should wait for a better property, a property where the owners isn’t a rookie, or is this an easy project I’m waaaay over thinking thanks BP.