Passing Oil Heating Costs to My Tenants?

Passing Oil Heating Costs to My Tenants?

Old Lyme, CT · Member since 2015 · 11 posts · 0 votes

Hi all. I own a four unit multi. There are two oil tanks in the building, each heating two of the apartments. So, it's impossible for me to know who is using how much oil and the heating cost ends up on my side of the ledger. Any cost effective solutions out there for how I can fairly and legally get the tenants to pay for their own heat? Can you submeter an oil tank? Help! Thanks!

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  • Investor · Buffalo, NY · Member since 2016 · 668 posts · 209 votes
    10y

    Get a heating contractor in there for some ideas. High-efficiency furnaces? More insulation? Unless there's a plan for 4-way accountability for each unit, each tenant will blame "the other guy."

  • Colleen F.Pro Member
    Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
    10y

    Do you have one furnace? two furnaces or 4 furnaces? Any option for gas in your area?   This will make a difference on what is the best option.

    I am not sure if  Ratio Utility Billing Systems (RUBS) would be an option but look it up. What you can do will depend some on your state regulations.

  • Old Lyme, CT · Member since 2015 · 11 posts · 0 votes
    10y

    Hi Colleen,

    It's two furnaces. I'm having a tough time seeing a RUBS scenario that would work for a single oil tank/furnace that powers two apartments. Maybe investing in a transition to gas might be the best long term solution. Big price tag, I fear. Thanks for your help!

  • Old Lyme, CT · Member since 2015 · 11 posts · 0 votes
    10y

    Hi Colleen,

    It's two furnaces. I'm having a tough time seeing a RUBS scenario that would work for a single oil tank/furnace that powers two apartments. Maybe investing in a transition to gas might be the best long term solution. Big price tag, I fear. Thanks for your help!

  • Member since 2021 · 17 posts · 0 votes
    4y

    Hey William, I would like to know how you ended up going with the oil pump situation you had. We are in a similar fix at this time. Regards

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