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Updated over 4 years ago on . Most recent reply

User Stats

25
Posts
16
Votes
Bilal Hussain
  • Real Estate Agent
  • Chicago, IL
16
Votes |
25
Posts

How do you handle non-conforming spaces?

Bilal Hussain
  • Real Estate Agent
  • Chicago, IL
Posted

A building has 2 main units with their own meters for utilities. However, there are also 2 non-conforming spaces.

One liveable attic space with its own furnace but all of its utilities are connected with unit 2. The same issue with the basement unit, its utilities are connected with unit 1.

PS - non-conforming spaces have their own entrances front and back.

When it comes to renting out all units, how would you structure the costs of utilities into rent? Would it be possible to add $200-250 to the base rent for each unit to cover the bills?

Do you think something like this is manageable? A main concern is the tenants will take advantage of this and get careless with the utilities as they are not paying for them.

Thanks for your sharing your thoughts!

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