As a landlord in New York City, you are required to pay tenant water bills.
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Landlords in New York City have it tough. By law, landlords are required to pay for their tenants’ water and heating, and in some cases, even pay electricity.
Water is the largest expense for building owners in New York today. Not only do landlords need to pay for water that is used, but they also have to pay for water that is wasted. The fact is, leaky faucets and toilets can add tens to hundreds of thousands of dollars to a landlord’s annual bill. In any given a building with 500 toilets, there can be at least 100 leaks a day, which translates into 9 million gallons of wasted water and $120,000+ extra in costs.
Water prices have exploded across the US in the past few years. If you’re a landlord, you may well have noticed your water bills increasing year on year.
Water is one of the highest utility costs landlords face, and it’s impossible to control this expense as no one can tell tenants what to do behind closed doors. So, as a landlord, it’s worth doing everything you can to keep your water bills manageable.
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