 Confused new landlord... (by Flossie [RI]) Sep 25, 2018 11:41 AM
 Confused new landlord... (by Ne [PA]) Sep 25, 2018 12:14 PM
Confused new landlord... (by Richard [MI]) Sep 25, 2018 12:19 PM
Confused new landlord... (by cjo'h [CT]) Sep 25, 2018 12:25 PM
Confused new landlord... (by S i d [MO]) Sep 25, 2018 12:51 PM
Confused new landlord... (by myob [GA]) Sep 25, 2018 1:48 PM
Confused new landlord... (by Vee [OH]) Sep 25, 2018 4:35 PM
Confused new landlord... (by Lynda [TX]) Sep 26, 2018 11:21 AM
Confused new landlord... (by LordZen [MA]) Sep 26, 2018 9:38 PM
Confused new landlord... (by Robert,OntarioCanada [ON]) Sep 27, 2018 12:05 AM
Confused new landlord... (by Flossie [RI]) Posted on: Sep 25, 2018 11:41 AM
Message:
Having recently bought my first multi family, and am now facing the upcoming Winter season with three 20 year old Peerless hot water gas heaters, I have begun to realize how vulnerable I could be if one or more of them happen to fail. When the mortgage company rep did his "positive" evaluation, he did little more than turn them on and off until the radiators heated up, adding that their was "not God and that there was just no way to predict how many more years these well made Peerless heaters will last." and that gas boilers don't require much annual maintainance." etc
Accordingly, will someone out there with experience with such boilers "in good condition" respond to the above information and give me some guidance?
Many Thankyous!
Flossie
--173.48.xxx.xxx |
Confused new landlord... (by Ne [PA]) Posted on: Sep 25, 2018 12:14 PM
Message:
Save your pennies and deal with it when you need to. Replace when you can.
Not sure why the bank rep did any inspections of boilers. I'd have qualified service techs clean and evaluate them immediately.
The big companies can have a new boiler installed in a day, don't worry too much as long as you can pay for it. Even without heat in a building, if your hovering at 70 when it goes out, you'll maintain heat overnight and not freeze up completely. --50.32.xxx.xxx |
Confused new landlord... (by Richard [MI]) Posted on: Sep 25, 2018 12:19 PM
Message:
Check with your utility company. I'm my area they offer a program to insure heater and water heater for $15 per month. It's not perfect but if anything goes wrong they either fix it or give you a credit towards a new one. If any breakdowns, tenant calls the utility company and they handle it.
I include the $15 a month in the rent.
--23.121.xx.xxx |
Confused new landlord... (by cjo'h [CT]) Posted on: Sep 25, 2018 12:25 PM
Message:
Flo,welcome to the world of Landlording.You say you're confused,don't let it bother you too much,most of us are,but we don't let on.whenever something gives it's last kick,we replace it with the most reasonable one we can find,so its good to look around now,so that when it happens your not in a state of "aOh!My God!what do I do"?.............Some things last for years away past what people think they will.which is good.In today's busy world,some things don't last as long as they once did.so don't go too much by what warranty's say,and ignore them,I just go by the best price I can get someone down to.so don't be afraid to dicker,it's part of the game,and it is a game,just ask Elliot,He's somewhere in your area.and join a landlords group,there's one around,in Massachusetts or in Connecticut,or maybe in your own area,but do use your own discretion,even in those groups there are shysters',just like anywhere else.just keep your wits about you.don't forget,people lie,I know,they're not supposed to,but they do,something about human nature,but anyway Good Luck........charlie..........Im in New Haven Connecticut,just across from the Park.Used to have three White Dogs Samoyed's.........................Alas they're no more.............................. --32.214.xxx.xx |
Confused new landlord... (by S i d [MO]) Posted on: Sep 25, 2018 12:51 PM
Message:
Now I'm a confused veteran land lord.
Paragraph 1, you talked about "hot water gas heaters" which is typically what one uses to heat water for showers, cooking, cleaning, etc.
Then later, "turn them on and off until the radiators heated up"....which is the kind of water heat one typically associates with older boilers use for climate control (i.e. central heat system).
Which is it?
My guess is the latter, in which case 3 old systems could be a nightmare.
Do you have spare funds to replace those? Capital Expenses are part of land lording, and land lords without reserves who think "the tenants will pay for repairs" can easily get caught short if they have a series of expensive issues hit all at once. Yes, the tenants rent should eventually cover the cost of the repairs, but your contractor wants to be paid TODAY!
If you've got nothing in the bank today, set aside all profits for the next few months until you can cover ONE boiler replacement. Then after that be sure to set aside a % each month (I use 5% of gross rents) until you can handle all three, then go ahead and replace the oldest/least trustworthy unit so it's no longer a "what if" hanging over your head.
Meanwhile, buy 5 electric, oil-filled space heaters at Wal-Mart / Lowes / Home Depot / Menards to use as emergency heat sources in case a system goes down before you replace it. They're only about $35 each and five of them can adequately heat most homes under 1000 sq if the insulation and windows aren't too bad and outside temps stay around the 20s/30s. I don't know what RI winters are like, but at least they can limp you along while repairs are underway. --173.20.xxx.xxx |
Confused new landlord... (by myob [GA]) Posted on: Sep 25, 2018 1:48 PM
Message:
I'm a prevent maintenance kinda LL. Have them evaluated and replace the worst one NOW. 2o years-- on all three get ahead of the curve.
I don't have boilers but I do have gas furnaces. To date there's only a few left with pilot lights-- but I have spare furnaces in warehouse-- just in case.
One fact: they won't go out when you aren't using them. AGREED? --99.103.xxx.xxx |
Confused new landlord... (by Vee [OH]) Posted on: Sep 25, 2018 4:35 PM
Message:
Not knowing much about these heaters it can only get better, do you have a hot water system with 2 pipes for each radiator or do you have a steamer that uses one pipe and there will be a whistler valve on each radiator - these can be taken off and left in a bowl of white vinegar to help take away rusty deposits that could clog the passageways. Now a water heating tank could also be gas and those installed run about 7-900bux, a lot cheaper than a heating boiler. --76.188.xxx.xx |
Confused new landlord... (by Lynda [TX]) Posted on: Sep 26, 2018 11:21 AM
Message:
When I gave my post I assumed Flo was talking about standard water heaters-1/ea apt in her 4-plex. I didn't pick up on the fact that she might mean boilers! They are larger and harder to store. During the height of my RE business,I used my own residence garage for extra property storage. At any time you could find a water heater, several doors (int & exterior) toilet tank lids, rolls of screening, leftover wood, molding, various fans, elec heaters, and refurbished appliances (fridge,stove,DW) whatever I might need in a hurry. I expect most LLs do that. I agree about not paying for storage--use what you've got--minimize hat you need. But advance planning sure saved me/tenant multiple times. --108.87.xx.xxx |
Confused new landlord... (by LordZen [MA]) Posted on: Sep 26, 2018 9:38 PM
Message:
Flossie, i just got this multi-family property a few month ago, when the inspector came, didn't mention anything bad about the boilers neither about the water heater tanks, but due to some reading and recommendations, i had several visits to check them, one plumber told me my water heaters were a little bit old, he can't guaranteed the lifespan of them, but if this were his house, he would change them one by one... Not too long ago after that, i hired a plumber to change one of the tanks, after he changed, he showed me all the rust, how damage was the heater and pipe system, he said i was lucky that it didn't burst and flooded the basement, i am in my way to change another one next month... Better to be safe, than sorry. --73.159.xxx.xxx |
Confused new landlord... (by Robert,OntarioCanada [ON]) Posted on: Sep 27, 2018 12:05 AM
Message:
Gas boilers need to be cleaned once a year or once every two years along there can be no leaks in the heating system as oxygen is introduced into the heating which will cause extensive corrosion. There are many videos on You Tube about gas boilers, indirect hot water tanks, insulation upgrades and other renovation methods. --147.194.xxx.xx |
Reply:
|
|