This brief article will go over what the LCP by Philadelphia Gas Works is, how it works, and how to apply for it! We consider this to be an essential for all landlords in Philadelphia as it limits your liability and can potentially save you hundreds if not thousands of dollars.
When it comes to paying gas utilities, tenants usually switch the service into their name and pay it as they would their electricity. However, when it comes to water bills we always recommend that the owner keeps the bills in their name. This is due to the fact that if a tenant switches the water into their own name the owner would then stop receiving bills and becomes unaware of any delinquencies that might be accruing on the account. What makes this even more significant is the fact that despite the bill being switched into the tenants name the water bill balance will always stay with the property which makes the owner liable for whatever amount may have been accrued. This could lead to very high balances, potential shutoffs, liens, and headaches. Moreover, did you know that in Philadelphia the gas bills work the same way as the water, and if that's the case then why do tenants switch the gas to their name, wouldn't it cause the same issue?
That's where the LCP program by PGW comes to the rescue! By enrolling in this program the outstanding balance on a tenant's gas bill will stay with them even after they move out of the property. This way the owner isn't liable for paying bills that they did not accrue themselves.
This program works quite simply, once you apply you are covered going forward regarding any balance your tenant might accrue and not pay while living at your property. It is important to renew your rental licenses and update them in the LCP system. The LCP system is usually fairly reliable with notifying you but in any case you want to make sure you are keeping everything up-to-date in the system to avoid any complications.
You can apply by going to LCP through Philadelphia Gas Work's website. You will just need the name associated with whoever owns the property (individual or entity) as well as an up-to-date rental license. If you are having trouble with uploading the rental license (which can sometimes happen) you will need to reach out to a LCP representative or someone form Licenses and Inspections to get that cleared up (who you need to reach out to depends on what the problem might be). Once everything is uploaded your account will be active almost instantly!
As far as we are concerned this program is the perfect way to protect you from any negligence you might encounter with renting out your property. We highly recommend all landlords to at least look into this program since we have seen it help countless people make sure that they aren't being charged for something they did not use.
Managing your rental property can be overwhelming. Whether it's staying on top of everything you have to renew, accounts you need to mange, collecting funds, coordinating maintenance, or any of the other functions involved, it definitely ends up taking up a lot of your time. We here at ANCHOR want you to know that we are here to help you with all the above and much more, reach out to us today to see how we can help you with your investment!
Privacy Policy: No mobile information will be shared with third parties/affiliates for marketing/promotional purposes. All the above categories exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties.