This is why master-metered heat is one of the biggest margin killers in small multifamily.Short-term mitigation options:• Install lockboxes or programmable thermostats with limited ranges (still compliant with local code)• Improve insulation, weather stripping, and seal air leaks• Service and balance the heating system to make sure it’s not over-firingThese help, but they won’t fully solve it.Real fix (long term):• Sub-meter heat if feasible, or• Convert to individual heating systems, or• Underwrite higher rents that assume landlord-paid heat as a permanent expenseMany Chicago investors simply bake this into rent and accept lower margins, or they eventually reposition the building when leases roll.Do not try to change rules mid-lease.Any change to utilities or control needs to happen at renewal and be documented properly, or you risk violations.Blunt truth:If you’re paying the heat, tenants will use it.

For example, if the improvements don't meet code, he shouldn't expect to be repaid the $200k he paid to make the improvements. 

Whether that's hiring a VA, automating your data pulls, or partnering with someone who handles that piece - don't let deal sourcing become a full-time job on top of everything else.Now I pull Columbus distressed property data weekly (tax delinquent, code violations, motivation scored) and it's one less thing competing for bandwidth when pipes burst or permits pop up.

I've seen an approach that is giving a "creator/influencer" a unique discount code.

Sell all property built before year 2000 (have owned houses as old as 1840 with asbestos, lead based paint and non-code compliant)2.

We list our properties and they want to meet for a walk though but I'm on the other side of the country.... so we have them do an application first (People HATE THIS) before either giving them the lock box code or paying someone to go out and show it. 

You can also look at what's for rent around the property or in the zip code.

In fact, you can have incredibly different property values for similar square footage within the same ZIP Code of the city.

Usually only makes sense if you’re already doing a major electrical upgrade.Written utility disclosure and rent adjustmentIf code allows in your area, some owners disclose that one unit powers a common system and adjust rent accordingly.

Usually only makes sense if you’re already doing a major electrical upgrade.Written utility disclosure and rent adjustmentIf code allows in your area, some owners disclose that one unit powers a common system and adjust rent accordingly.