OfflineHow does the whole free heat works,is there hidden charges how would i benefit from giving my tenant free heat. Would i get some form of tax reduct if i do is there a process that is used to give free heat and still benefit.
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How does the whole free heat works,is there hidden charges how would i benefit from giving my tenant free heat. Would i get some form of tax reduct if i do is there a process that is used to give free heat and still benefit.
Are you talking about utilities included in rent?? Expand on your question. I am not sure of what you are asking...Jan
Yes how does that work?
It is simple, you pay the heat for your tenants, that is it in a nut shell. the utility bill comes to you. Of course the rent would be higher to cover the utilities. Jeremy and I, have a 4 unit, that we pay for all the utilities, fortunate for us it is municipal so the cost is more than half of what you would pay a utility carrier. I don't think there are any tax advantages for this perk, at least not that I have heard of. Hope this answers your question...Jan
I know that for my in-laws 3 unit apartment house, they had to give "free" heat to the tenants, only because it was an older house with 1 heating zone- so there was no way they could split up the cost of the fuel oil charge between the 3 apartments on 3 different floors that were 3 different sizes. Of course they just charged more per rental unit to cover the heating oil cost.