I pay the power bills for apartments I rent, and then in turn charge the renters, do I claim this as both income/expense?

[CaddyGrn]

I pay the utilities (power) so I can avoid "flaky" renters from not paying the power bills and getting power turned off and avoiding freezing pipes and huge expenses on my part.... in turn I bill the renters each month for the amount I paid to the power company.  Do I report this as income and expenses?  It is a "wash"....

[WillK · Accepted solution]

Yes, it is a wash, but should be reported. 

[CaddyGrn]

Thanks very much