Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
Hi all
I was wondering about your experiences with controlled thermostats -- there seems to be so many choices -- ones that are actually hard set, like 71 degrees or 73, then units that are both programmable or not but have "set points," etc. I'd like to have them be programmable so that I can set them at a MAX like 72 degrees, but also be able to have them go down a few degrees at night -- any thoughts? this article has alot of info but I'd like to hear from real landlords
Real Estate Investor · Ann Arbor, MI · Member since 2009 · 130 posts · 4 votes
17y
Exactly what I was thinking, even a small electronic that puts off heat can trick most basic sensors. You could get clever and hide them in strategic locations, but the truly determined will ultimately find them anyway. Plus what's the problem with getting the tenant to pay anyway?
I guess you could build in some kind of fee or penalty if you catch them messing with the sensors, but it probably wouldn't be worth the hassle.
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
17y
I havne't been a landlord for too long, but my research so far indicates that tenant paid heat does not really exist in central maine. (not with multi units above 4 units anyway) -- There's one big furnace. I have a duplex that has 2 furnaces and they pay their own, and of course ALL 3 of my SFR do but htis is a 7 unit with a furnace the size of a 57 studebaker.
I do hear from most of you though, that having the tenant pay is the only option. I keep forgetting to ask how you do this when you get into the multi units, like 4, 5 and above.
I DO HAVE 2 efficiencies (borderline 1 BR except for no real wall btwn living room and kitchen) and I can see putting propane monitor heat in them and having tenant pay -- PLUS they are the bulk of the first floor so it will help offset the upper story.
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
17y
That's common around here, too. I just don't buy those units. I wouldn't want to be paying for heat in Denver of Maine. Remember, the goal is to make money, not to own real estate.
Real Estate Investor · Wyoming, MI · Member since 2008 · 195 posts · 10 votes
17y
On the THERMOSTAT issue,
we do have a duplex with the heat not separated and I was just talking about the subject of a stat with a limiter on it.
We do have a programmable one with lockable limits on it(on another property) but I was wondering what ALL the different ideas are?
And when you can buy a property and rehab it for a total of 25K and it cash flows $1250/month..sometimes we just deal with paying the heat and just get creative on how to control the heat costs.