Hey guys... I know some of you know the answers to my questions! Your help is appreciated!
I am a newbie landlord. I am planning to rent out my my condo in about a month after the closing.
In purchase agreement, it says that I have to contact Con Ed within 10 days of purchase to transfer the Con Ed account into my name. Is this necessary since I am renting it out? I know that phone & cable will be tenant's responsibility. But my understanding is that electricity is tenant's responsibility as well. How does this work exactly in rental situation? If I wanted to use the condo myself while it's vacant, I guess I have to open the account in my name first then cancel it after I find the tenant? (and thus repeat this process whenever there's a gap between tenants?)
Con Ed does this real fast and easy: YOU call Con Ed and tell them it's gonna be changed to your tenant's name, and the date it changes. ---- Then tell your new tenant to call and get it changed to his/her name. Very easy.
Hey guys... I know some of you know the answers to my questions! Your help is appreciated!
I am a newbie landlord. I am planning to rent out my my condo in about a month after the closing.
In purchase agreement, it says that I have to contact Con Ed within 10 days of purchase to transfer the Con Ed account into my name. Is this necessary since I am renting it out? I know that phone & cable will be tenant's responsibility. But my understanding is that electricity is tenant's responsibility as well. How does this work exactly in rental situation? If I wanted to use the condo myself while it's vacant, I guess I have to open the account in my name first then cancel it after I find the tenant? (and thus repeat this process whenever there's a gap between tenants?)
Any help and advise is appreciated!
Con Ed does this real fast and easy: YOU call Con Ed and tell them it's gonna be changed to your tenant's name, and the date it changes. ---- Then tell your new tenant to call and get it changed to his/her name. Very easy.
This is a question you need to go to Streeteasy for?