How to manage inherited tenants?
Dear BP community -
I am looking at closing on my very first rental property, but wanted to get some advice before sealing the deal-
Some details:
Location: NEPA , Clarks Summit, PA (close to Scranton) - Anyone with experience in this area please comment with what may be customary in this area!
2 units - both currently occupied, but one is moving out. By the time we have transferred ownership I will have one existing tenant and one vacancy.
The occupied unit is being rented ~100$/mo below market rates.
The property is being managed by the current owner.
Here are my questions:
1. Do I honor the existing lease for the tenant already in place (until it ends), or does he sign a new lease when I take over? Do I ask the owner to send me the current lease agreement?
2. The property has gas heat (boiler) - not split out, so likely I will be paying this as the owner unless I can set up some other arrangement for the tenants to split the bill. The winters here are freezing - how do the landlords out there manage their thermostat/heating bills? I could install thermostats that can be controlled via an App on my phone to monitor the heat setting.. does anyone do this?
3. To add to the heating discussion - does anyone local have an idea how much my gas bill would be in the winter months for this roughly~3,000sq ft house? Would the gas company be able to provide this information?
4. Garbage/water - Owner pays? Any way around this?
5. Snow removal - tenant responsibility?
Thanks in advance!