bought an 1890's tri-plex need advice
pays all the utilities, heat, hot water and electric for the 3rd floor one BR apt. House closes on OCt 30, so I can't get in there again. Owner pays heat and electric for first and 2nd floor apt (she occupies now, will leave on the 30th), there are 3 separate meters for what??? gas related appliances and equipment which the owner pays for. 3 rented hot water heaters, 1st floor pays for that rental, 3rd floor does not. One gas meter 7 years old. The heat, electric and hotwater bills are very high and when I crunch the numbers they don't work. With me paying the mowing, snowblowing, heat, electric, hot water, rental for one hot water heater and the 3 meters for extra gas usage, well, do the math. The 2nd floor apt is fabulous, I have a very responsible tenant that wants to move in (she can pay 1300. but that's all) The thermostat is in her apt so I need someone responsible there.
Month to month leases - good good rental area, no problem finding renters...
How to handle these situations? Besides, theres tube and knob that's active in the attic for one light bulb and vermeculite insulation up there as well...some basement windows need replaced. A small part of the roof need to be done right away. So I will have some expenses upfront but no huge ones. I could wait with the insulation removal and reinsulation and the tube and knob I can wait, but I don't want to wait too long.