Tenant compensation

I have a 3bdrm apartment that I’ve rented to a rotating crew of lovely young people. All have been wonderful since we began in 2014. I am an attentive hands-on landlord. We live below the rental and see the tenants coming and going frequently. The dilemma – last Friday night, the heat stopped. The rental has its own combi that supplies dhw and heat. I checked it out and troubleshooted. A professional came, but wasn’t experienced enough to work on this older model. I have been calling many professionals, but most aren’t equipped. On Monday, they lost dhw as well. Today, I had two different technicians come in. One wanted $600 just to run diagnostics. The
other did all that for free and surmised that we need to replace it. Ok. We’re going to do it ASAP, but after all is said and done, my tenants might go about a week with no heat or hot water. What is fair compensation. As I said, we have good relationships with them and want to keep it that way. Thanks in advance.

workisfun

in General Discussion 6 years and 7 months ago

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workisfun | 6 years and 7 months ago

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Actually, during these cold days, we like to make batches of glogg. We just keep it in the sauce pan and heat it up every night. We usually make enough to last the week – and it gets better as it sits.

slopefarm | 6 years and 7 months ago

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LOL — my “wine cellar” is an ikea rack in the mudroom. About the right temp, though.

workisfun | 6 years and 7 months ago

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Right – I’m definitely NOT one of the wine cellar havin’ Brownstoners!

Rick | 6 years and 7 months ago

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“maybe a bottle of wine” ? Sounds like a valuable bottle ? LOL : ) Just be upbeat about it and have a can do attitude . Half rent for the week sounds right.

slopefarm | 6 years and 7 months ago

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That sounds about right to me.

workisfun | 6 years and 7 months ago

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Thanks for the input. We’re leaning forward giving them back half rent for that week and maybe a bottle of wine.

BKALLDAY | 6 years and 7 months ago

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Actually I believe if you are making a good faith effort to fix you don’t have to pay anything. But if you feel like it send them to a hotel for the night the day before it will be fixed and back to working order. This way they come home to a warm place. You could treat them to dinner and then shave a bit off of next month’s rent pro-rated.

yudashasom | 6 years and 7 months ago

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Tell them you’ll make an adjustment on the rent when it’s sorted out. Maybe just a flat adjustment, not per day, nothing over the top. Get them space heaters and give and factor that in with the overall adjustment. The hot water part and letting them use your shower, is up to you.

Arkady | 6 years and 7 months ago

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I’d offer them the use of my shower, too.

mattieweiser1

in General Discussion 6 years and 7 months ago

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As a landlord and as a previous tenant of many landlords (good and bad), personally I would not charge my tenants rent for the days that the heat/hot water is not working. Therefore I would pro-rate the rent for that month, for the days that utilities are fully functional.