 Water Bill Escrow (by Mary [MD]) Feb 1, 2017 8:52 AM
 Water Bill Escrow (by Jim in O C [CA]) Feb 1, 2017 9:47 AM
Water Bill Escrow (by Ken [NY]) Feb 1, 2017 10:46 AM
Water Bill Escrow (by John... [MI]) Feb 1, 2017 10:57 AM
Water Bill Escrow (by Smokowna [MD]) Feb 1, 2017 11:34 AM
Water Bill Escrow (by Robert Phaedra [NY]) Feb 1, 2017 11:58 AM
Water Bill Escrow (by razorback_tim [AR]) Feb 1, 2017 12:55 PM
Water Bill Escrow (by Lana [IN]) Feb 1, 2017 3:26 PM
Water Bill Escrow (by Vee [OH]) Feb 1, 2017 6:20 PM
Water Bill Escrow (by Mary Hoffman [MD]) Feb 3, 2017 5:14 AM
Water Bill Escrow (by Robin [WI]) Feb 3, 2017 6:17 PM
Water Bill Escrow (by Mary [MD]) Posted on: Feb 1, 2017 8:52 AM
Message:
State Specific Question About: MARYLAND (MD)
I work with an investor who is having trouble collecting payment for water bill. He prefer to have water bill come to him then have tenant reimburse him for the bill quarterly.
He would like to set up a water bill escrow so the funds are available when it time to pay the bill.
Any thoughts on this?
Mary Hoffman
Broker/Owner 1st Rate Realty
Licensed in MD and DE --69.143.xxx.xxx |
Water Bill Escrow (by Jim in O C [CA]) Posted on: Feb 1, 2017 9:47 AM
Message:
Bad idea. Have the tenant pay. In California a landlord can not turn off the water for non-payment due to health code laws. Also an unhappy tenant can run the water all day long knowing the landlord is paying the bill. --108.196.xxx.x |
Water Bill Escrow (by Ken [NY]) Posted on: Feb 1, 2017 10:46 AM
Message:
In my area the bill has to stay in my name for water,I send the bill to the tenant and most pay it,occasionally they don't pay and the village will turn it off,my position is I didn't turn it off and the lease says it is there responsibility and so far no problem. --24.25.xxx.xxx |
Water Bill Escrow (by John... [MI]) Posted on: Feb 1, 2017 10:57 AM
Message:
Mine is like Ken (and I think that is the case in MOST areas where the water is provided by a municipality -- which is pretty common). The water bill MUST be in the property owner's name -- there is no option.
And, really, I WANT it that way -- because it is lien-able against the property. No way I want the tenant direct responsible for a payment where non-payment can lead to a lien against my property.
I just build it into my rent. I consider it a normal monthly expense like property taxes or insurance.
- John...
--207.241.xxx.xxx |
Water Bill Escrow (by Smokowna [MD]) Posted on: Feb 1, 2017 11:34 AM
Message:
Which part of Maryland? You may be able to have a Courtesy Bill sent to the Investor as well. This would allow you to see whether the tenant has paid the bill.
I too would prefer the bill go to the tenant along with the responsibility to pay.
If you could go into more detail as to the problem with the current tenants. Who has the bill in their name now? --96.231.xxx.xxx |
Water Bill Escrow (by Robert Phaedra [NY]) Posted on: Feb 1, 2017 11:58 AM
Message:
In the municipality where my rental is located, we pay a flat rate per unit for water. So a single family home pays one unit, a rental pay for however many units are on the property. You can use or not use as much water as you want. You are paying the same price no matter what. I like it that way - no surprises.
My own home, in a different location, bills according to use. I like that, too, as I am the one using the water. I am paying for what I use and not abusing it. --134.179.xxx.xxx |
Water Bill Escrow (by razorback_tim [AR]) Posted on: Feb 1, 2017 12:55 PM
Message:
Here most of the time the water bill does not follow the owner, it follows the tenant, but I have a few homes where it does follow the property. What I've started doing on those is a separate bank draft for the water each month. One draft for the rent and one draft for the water. I sent the tenant a copy of the water bill each month so they know the amount I'm drafting is correct. Any partial periods are prorated based on the number of days of occupancy or obligation. --166.137.xxx.xx |
Water Bill Escrow (by Lana [IN]) Posted on: Feb 1, 2017 3:26 PM
Message:
the sewer part of the water bill is attached as a lien to my property if the tenant does not pay. I take unpaid water bills out of the security deposit with a $25 "Service Fee" if I have to go down and pay it for them. This way I have avoided many liens. Indiana, however, gives me 45 days to return deposit so they have plenty of time to get the last bill and pay it. --152.131.x.xxx |
Water Bill Escrow (by Vee [OH]) Posted on: Feb 1, 2017 6:20 PM
Message:
Study your state/tenant laws, better to add onto next rent cycle, many places do not allow access to the security deposit until the unit is empty or turned over to the manager/owner. --76.188.xxx.xxx |
Water Bill Escrow (by Mary Hoffman [MD]) Posted on: Feb 3, 2017 5:14 AM
Message:
I spoke to a local property manager here in Maryland and she recommended a provision in the lease to add a monthly amount as rent to pay the water bill with an annual adjustment if any funds need to be credited for excess funds collected. --69.143.xxx.xxx |
Water Bill Escrow (by Robin [WI]) Posted on: Feb 3, 2017 6:17 PM
Message:
In my area, the water bill stays with the property. On my first two water bills, I made the tenant responsible for the water bill. Guess which of their many bills stayed unpaid? I finally got smarter and added it into the lease. I collect X amount from the tenant each month (built into the rent) and use it to pay the water bill. They're responsible for any amount over X just so they have some skin in the game. That policy has allowed me to keep current with the water bills. --104.230.xxx.x |
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