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Updated about 10 hours ago on . Most recent reply

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17
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9
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Bobby Eastman
  • Dallas, TX
9
Votes |
17
Posts

I have a boiler but it is expensive to run what should I do?

Bobby Eastman
  • Dallas, TX
Posted
My wife and I bought a 4plex 1.5 years ago. After going through a year I have some concerns about my boiler. The boiler is less than 10 years old and operates pretty good. However the company that my PM uses charges around $1200 to set up and drain each year 2,400/year. On top of that my 4plex cannot be individually metered for gas so I end up paying for the gas which costs over $3,000 per year easy. All of these costs are on top of any problems with the boiler system. I am wondering if this is typical with a boiler? Should a boiler in good working order cost between 2,000-3,000 to set up and drain each year on top of any issues?
I am looking into alternatives for AC/Heat and am thinking about the LG 23,000 BTU 230/208V Window Air Conditioner Cools 1,400 Sq. Ft. with Heater, Wi-Fi Enabled and Dehumidifier. This runs for a little less than $800 which even with 4 would be less than I spent on gas and the boiler last year. The boiler is the only appliance that uses gas in my building. 
My wife and I have considered self managing but due to the distance (Dallas-St. Louis) I have been hesitant. Does anyone have any suggestion for window units that have worked for them or ways to operate a boiler cheaper? Does anyone have any suggestions for a PM located in St. Louis? I greatly appreciate the help.

Most Popular Reply

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Alecia Loveless
2,236
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Alecia Loveless
Replied

@Bobby Eastman We don’t set up and drain our boilers or furnaces. We simply turn them off and on. We also have them cleaned every year which costs between $150-200.

If you switch to electric heat you will have to pay for the new units and if the tenants are paying for heat your rent will have to be adjusted to compensate for the tenants extra expense.

My boilers use between 2000-4000 gallons of oil a year which is $6000-$12000 a year. Propane heat is less expensive right now.

I don’t think $3000 a year for heating a 4-plex is bad. It’s pretty cheap. Ideally you would have known this approximate cost prior to doing your underwriting when you purchased the property and factored it into your numbers.

I have found my tenants don’t conserve heat when it is included in the rent. I’ve found it’s better to have the tenants pay for the heat and charge less rent to offset the difference. It has saved me a lot of money and headaches. I’m making more cash flow not paying for heat.

  • Alecia Loveless
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