All Forum Posts by: Steve R.

Hi Jesse and welcome to biggerpockets.

Most of the info you will find here is related to US market, but I would say about 75% is applicable in Canada.  Shout any questions you might have regarding RE here, you will get lots of feedback.

Steve

Thank you all for your input.  It looks including utilities and putting a cap on them so that they would pay if they go over is the way to go.

that is the thing, they do not have separate meters for anything, and it would be close to impossible to make them separate without opening ceilings in the basement and rewiring, and to do some plumbing in the furnace room

Hello fellow landlords.

I am on my second rental property in Calgary, Alberta.  That is in Canada, just north of the USA for those of you who does not know.

I like to set up my properties up and down, so there is a basement apartment.

The question that I have not made my mind completely: do I include utilities with the rent or bill them every month for utilities like 60/40?

If I include utitilities in the rent and start getting bills for 1000 every month, I am in red till lease is up.  But it is less paper work for me

If I make them a bill every month, more security for me on a monthly basis, but more paperwork, and the most important issue:

once tenant moves out, by the local regulations I have to give them their deposit back within 10 days if I do not claim anything on it.  But the local utilities company will send me the bill for the last month the tenant lived in the apartment only about a month latter.  Once I give a deposit back, most likely I will not be able to chase the former tenant and collect the last utilities bill from him/her.

I would like to hear your opinions.

Thanks