I'm purchasing a three family split level type home in bensonhurst. (1 heater/boiler). Should I separate the heat for each apt? Worth the money

Asked by Newhomebuyer, 11228 Mon Nov 1, 2010

to do?

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8
Vincent Agri, , Brooklyn, NY
Mon Nov 1, 2010
I find it strange that there is only one heating system for the the entire building. Request to see the Certificate of Occupancy to make sure that you are buying a legal 3 family and not a one or two family that has been converted. This will cause you problems going foward. if it is a legal 3, then i would recommend adding separate units so that each tenant is responsible for their own heat/hot water bills which will save you money if a tenant refuses to pay at some point (like the middle of the winter) because the windows are drafty or some other excuse.....
0 votes
Gene Hacker, , Lake Isabella, CA
Mon Nov 1, 2010
I would start by getting better control of the numbers.

I would get a several (3+) bids as to what the required improvements would cost.

Then you can estimate the cost savings over time.

With these numbers you could calculate your return on investment over specific time periods.

If the return is better than other options available to you...than I would strongly consider it.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Nov 1, 2010
Much will depend on your finances--If you plan on being the owner for some time to come, it's generally a good idea for a tenant to regulate his/her heating--do check with the local building's department regarding any permit issues, etc., and if needed, do consult with your utility company as well--what is your agent suggesting....
0 votes
Charles D'Al…, Agent, Brooklyn, NY
Mon Nov 1, 2010
It sounds good.But if you want to be sure, a great idea is to call the gas company and have a free efficiency evaluation . The gas company may have more detailed answers for you as well as an education on the matter.
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Mon Nov 1, 2010
Dear Newhomebuyer:

In order to best answer your question I need to know how long you plan on holding on to the property. If you are planning to hold onto the property for many years it will be well worth the expense because you would have the tenants paying their own heating bill and therefore your operating overhead will be a lot less. This will also increase the overall value when you go to sell the property.

However, if you are planning on selling the property in the near future, most likely you will not recoup the full price you pay for such alterations. This type of alteration will add some value but probably not 100% of the cost, unless you are a contractor who is getting the work done at a heavily discounted price.

If I can be of further assistance please let me know.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Mon Nov 1, 2010
Dear Newhomebuyer:

In order to best answer your question I need to know how long you plan on holding on to the property. If you are planning to hold onto the property for many years it will be well worth the expense because you would have the tenants paying their own heating bill and therefore your operating overhead will be a lot less. This will also increase the overall value when you go to sell the property.

However, if you are planning on selling the property in the near future, most likely you will not recoup the full price you pay for such alterations. This type of alteration will add some value but probably not 100% of the cost, unless you are a contractor who is getting the work done at a heavily discounted price.

If I can be of further assistance please let me know.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
Corey Wasser…, Agent, New York, NY
Mon Nov 1, 2010
Hi,
I definitely recommend having a separate boiler for each apartment. This will save you a lot of money and headache in the long run. Your tenants will pay for what they use rather than complaining you are not giving them enough heat. If you have any further questions please feel free to contact me.

Thank you
Corey Wasserman, Associate Broker
Bergen Basin Realty
718-763-4110
0 votes
Lolita Eufem…, Agent, Brooklyn, NY
Mon Nov 1, 2010
Congratulations on your new Home!
I will not do it, is easier to rent apartment when the landlord provide the heat, plus is costly. unless you will be do it your self and save some money.
Thanks
Lolita Andrade
646 251 6339
0 votes
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