When considering a rental property (I'm looking at duplex) that has oil heating, do you account for the price of tank refills separately, or just consider it as part of normal maintenance/CapEx? If I move forward with this property, I won't really be able to individually bill my tenants for heat, can I? I don't suppose I can separate costs of oil heat the same way other utilities may be separately metered per unit. Thanks in advance.
If its forced air , its probably 2 tanks . if its a boiler its most likely one . As long as its 2 different heating plants ,it should be 2 tanks
@Jason Unrath What I would suggest because it was suggested to me. Contact the owner get the records for 2 years back on how much monthly they spent on oil. Calculate the average and add a little on top so you cover all of your expenses and maybe at the end make out with a little money on to of the rent.
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