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Updated about 4 years ago on . Most recent reply

User Stats

49
Posts
15
Votes
Lee Stephens
  • Investor
  • Rosemont, IL
15
Votes |
49
Posts

Utilities After Closing & Acquiring Tenants

Lee Stephens
  • Investor
  • Rosemont, IL
Posted

Hey BP, 

In 2 weeks I will be closing on my first property that will have two vacancies, which led me to a couple questions regarding utilities and new tenants. 

1). If a prospective tenant was to ask what a general utility bill costs at this property, how can I give them a good answer considering that I just acquired the property? Am I thinking too deeply?

2). After the vacancy is filled and the utilities are transferred to the tenants name, what happens with that next bill since there will be a % of days that the LL and TT is responsible for? Is this just pro rated? 

*Also, if there is anything else that's notable that I should be prepared to answer, please add. Thanks!*

Most Popular Reply

User Stats

49
Posts
15
Votes
Lee Stephens
  • Investor
  • Rosemont, IL
15
Votes |
49
Posts
Lee Stephens
  • Investor
  • Rosemont, IL
Replied

@Julie Hartman Thank you, Julie. Receiving copies of their utility bills is a great idea

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