Hey all -

Had a quick question on a rental property that I am considering buying...

The current owner pays the gas bill; tenants pay the rest. My question is: how does a budget plan work? Seller states that on a budget plan her bill is $250/month. With it being cold in the NE, this is about right for the winter. Do I pay $250/month for the entire year? Or is it just during the cold months when the heat is actually being used?

Thanks in advance!

You need to ask her what she means, or the power company. It probably means year-round.

Daedala - for sure; just thought some of you may be in a similar position! Thanks...

My expectation of a budget plan is that the bill was averaged and fixed so it is the same amount every month, so that you can 'budget' a steady amount each month.

Be aware that it's not completely fixed either. I signed up for the budget plan at the begining of winter, but due to a cold winter, and the fact that the other apartment in our bulding was empty all winter, our bill was much higher than last year so it jumped. Yikes.

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