Tip #103: Money Down the Drain
Whether you pay for your tenants’ water, or they pay themselves, it’s important to know if there are water leaks in the property.
The EPA suggests an easy test to see if water is leaking: check the water meter before and after a two-hour period when no water is being used. If the meter changes at all, you probably have a leak.
Another method is to check the water usage during one of the colder months. If a family of four exceeds 12,000 gallons per month, there are serious leaks.
You can identify toilet leaks by placing a drop of food coloring in the toilet tank. If any color shows up in the bowl after 15 minutes, you have a leak. (Be sure to flush immediately after the experiment to avoid staining the tank.)
Have a quick tip to share with other landlords? Email our editor at email@example.com.
See last week’s Landlord Quick Tip.
American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.