Using space heaters temporarily, could we rent a place out like this?

Question

My husband and I are considering buying a two-family unit. The previous owners did not winterize the property properly and all the raidiators burst. Now, a new heating system would have to be put in. We're weighing our options and deciding if we would want to put a bid in. Realtor said he would suggest putting in forced air and said he guessed it would cost about $8K to put in. So now we're trying to figure out if we should put down less of a downpayment and fix the heat, or put down more and then use space heaters until we had enough money to fix the heat. We would live downstairs and rent out the upper 1 BR unit. Can we legally do this? People have told me that space heaters would work fine, but I'm leery of them. What would you suggest we do - less downpayment and fix heat or more downpayment and use space heaters?

Forgot to mention - this a bank owned property so I don't know if I can get much else out of them. It's being sold As Is.

I didn't think the space heaters were safe, but then people we're telling me that they are. We really like the property, but we're going to have to seriously consider our options.

Answer 1

I don't think space heaters are safe, there could be serious danger from fire or carbon monoxide. Also, as a landlord, you could be opening yourself up to all kinds of liability issues. Be very careful with this!

Answer 2

You don't mention what state you are in (winter heating requirements are more in Buffalo, NY than in Miami FL). That said, I would bet that it isn't legal to rent out a place that didn't have central heat. Not only is it most likely not legal, but think about it from the other perspective. Would you rent an apartment that only had space heaters for heat? I wouldn't. Legal or not.

Don't rely on your real estate agent for an estimate of repair costs. They aren't contractors. The fact that there were radiators suggest to me that there is no duct work for forced air heating/cooling. If there is no duct work then your realtor is just making a WAG (wild assed guess) at the cost . Without actually looking at the house there is no way to estimate the cost of installing duct work.

A furnace (gas or oil) would probably run ~$1500 (per apartment) and a central air unit would run ~$2500 per unit. You are already at $7000 and haven't even considered ducts. Please do your homework, get a good home inspection and make a rational decision.

Good luck!

Answer 3

space heaters. no. they aren't safe.

I would suggest if you are serious in your purchase that to get bids from contractors on the cost of a heating system. i seriously recommend you have the property inspected by a licensed inspector to find out any other hidden problems that may be present. talk to your realtor. when you negotiate your purchase contract to have the seller pay for the replacement for the heater and any other repairs out of his escrow fees. it's a buyers market right now so use it to your advantage.