Tenants Not Paying Sub Metered Property
Hello BP Community.
I am in talks to purchase a 20+ unit apartment building in So Cal for 1,450,000.
I went over the property operations and agent just disclosed units are sub-metered for electricity. Agent said that people are paying rent but they are having a problem with people not paying their portion of the electric bill. Usually over the summer when the AC is on. In fact 5 tenants are multiple months behind owing $300+.
Does anyone have experience with enforcing the submeterd apts bill? Can you cut off their power? How easy is it to evict a person if rent is up to date, but electric is not paid? What about tenants then questioning the bill, saying its inaccurate?
Any insight would be very appreciated!