You all have been such I help. I am slowly spending more time on BP. Thank you. Looking to buy a duplex with a shared boiler. Two story, one unit on each level with a full unfinished basement. The boiler is only 12 years old and is located in the basement. Right now the owner pays the heat, first floor unit. There are two electric meters and two gas meters. The upstairs unit has a gas line ran for there stove and then for their dryer in the basement. So the gas meter for the upper unit has dryer and stove on it. Owners meter has boiler, his stove and his dryer on it. I want to split the heat so I am not paying this. I am thinking boiler can be kept for one of the units and install a furnace for the other. Anyone have experience with this? I am thinking some reconfiguring of pipes for the boiler and some duct work and gas lines for furnace. I am I getting into something that is too expensive? 872 sq ft each floor.
It could get pretty expensive to do. You could just try splitting the costs between the units like some larger apartment complexes do. Look into "RUBS" which is an acronym for “ratio utility billing system.” It’s a system by which an owner of a master-metered building estimates each unit’s utility cost by factors such as square footage, number of tenants per unit, or other factors, and passes on the utility cost to individual units accordingly. Then you save the money and headache of having to get everything re-piped. I have not done this myself but many other investors on here have. I believe your utility company should be able to help you set it up.
I actually know what the bills are currently. I am just trying to see if the market will bear raising rents high enough to offset the cost of the heat. It is not typical in the area, but I have found some rents that include heat.
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