landlord controlled thermostats
Hi all
I was wondering about your experiences with controlled thermostats -- there seems to be so many choices -- ones that are actually hard set, like 71 degrees or 73, then units that are both programmable or not but have "set points," etc. I'd like to have them be programmable so that I can set them at a MAX like 72 degrees, but also be able to have them go down a few degrees at night -- any thoughts? this article has alot of info but I'd like to hear from real landlords
http://www.prothermostats.com/article.php/thermostats-and-other-products-that-help-protect-landlords-from-high-utility-bills/?id=5
Make them pay utilities. You think they can't fool these with a bag of ice or hot water hung over the thermostat?
Exactly what I was thinking, even a small electronic that puts off heat can trick most basic sensors. You could get clever and hide them in strategic locations, but the truly determined will ultimately find them anyway. Plus what's the problem with getting the tenant to pay anyway?
I guess you could build in some kind of fee or penalty if you catch them messing with the sensors, but it probably wouldn't be worth the hassle.
I havne't been a landlord for too long, but my research so far indicates that tenant paid heat does not really exist in central maine. (not with multi units above 4 units anyway) -- There's one big furnace. I have a duplex that has 2 furnaces and they pay their own, and of course ALL 3 of my SFR do but htis is a 7 unit with a furnace the size of a 57 studebaker.
I do hear from most of you though, that having the tenant pay is the only option. I keep forgetting to ask how you do this when you get into the multi units, like 4, 5 and above.
I DO HAVE 2 efficiencies (borderline 1 BR except for no real wall btwn living room and kitchen) and I can see putting propane monitor heat in them and having tenant pay -- PLUS they are the bulk of the first floor so it will help offset the upper story.
I do hear from most of you though, that having the tenant pay is the only option. I keep forgetting to ask how you do this when you get into the multi units, like 4, 5 and above.
It's very easy! Simply don't buy a building if it has owner paid heat or buy the building so cheap that you can convert it.
There is nothing magical about larger buildings. If you can't make money with them, DON'T BUY THEM!!!
Mike
That's common around here, too. I just don't buy those units. I wouldn't want to be paying for heat in Denver of Maine. Remember, the goal is to make money, not to own real estate.
On the THERMOSTAT issue,
we do have a duplex with the heat not separated and I was just talking about the subject of a stat with a limiter on it.
We do have a programmable one with lockable limits on it(on another property) but I was wondering what ALL the different ideas are?
And when you can buy a property and rehab it for a total of 25K and it cash flows $1250/month..sometimes we just deal with paying the heat and just get creative on how to control the heat costs.
Originally posted by Kenneth LaVoie:
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I keep forgetting to ask how you do this when you get into the multi units, like 4, 5 and above.
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In some multi-unit rentals that I have seen, electric baseboard heat is used in units where running heat via other methods is prohibitive to do.