Rental Property Investor · Yonkers, NY · Member since 2020 · 1 post · 0 votes
Hey guys,
I currently own and am living in a two family home. The heat is very expensive in the winter as it is an old house and doesn't have insulation. I have considered doing the blown in insulation, not sure it will be worth it??
The thermostat for the entire house is in my apartment and I make sure to seal up all windows and doors before turning the heat on. My plan is to move out shortly and start generating cash flow but am concerned what heating costs will be like with the renters able to control the thermostat and not being as diligent about keeping windows and doors closed. Is there a relatively inexpensive way to split the heating system so that each apartment can pay for their own heat?
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
5y
@Margaret A Madden it depends on what type of heating system you have, but generally speaking there is no good way to split without installing two separate systems. That can be hard to do if you have boiler or forced air because the pipes or ducts are run for one property. You could do split billing, where you bill the tenants each month a portion of the total bill. This is usually split using square feet so the unit with more square fee pays a larger portion of the bill. The trouble with splitting is one tenant may work had to conserve energy and the other may not.
I would recommend insulating the property and looking at replacement windows if they have not been updated. Have someone do an energy audit.