Hs anyone used submetering for MFH properties? If so what has your experience been like? How much is it cost and was it worth it overall?
Hs anyone used submetering for MFH properties? If so what has your experience been like? How much is it cost and was it worth it overall?
I didn't know a sub meter was possible. Here in ROC is is ~$500 for the permit and meter via the city. It can be done on a SFH for landlord use.
Only way is to contact 2 or 3 contractors for free estimate.
And yes it is worth especially in Michigan with very cold winter. You can make a win win after 4-5 years.
Maybe you can contact Jon he asked last month same question here.
-Uwe
Hi Guys,
Sorry I overlooked to clarify!
I was consideting submetering the water supply for each tenant in the MFH
Water sub is nice to have but not recommended.
What I told with gas/electric, get a estimate by 2-3 plumbers and calculate it. Then you will see if this good or not.
-Uwe
Brian -- how much did this cost you, and how do you administer the collection of the bill.
Telephone: 502-321-6328
It depends on the property. I have a 9-unit building that is read remotely so it cost about $450 per unit installed. I also have a duplex where I read my own meters, there the meters installed were about $175 each. The company handles all of the billing and collections, I just get a check each month.
Just to note I work for the company also.
Brian thanks for the reply. I have a duplex property and would like to get the meters installed there. So the total cost is likely to be $350. Is that correct?
You can find just the meters for about $75 with meter couplers. You could install them yourself or get a plumber to do it for about $100. You would need to read them yourself monthly and either create your own bills or use a submetering company to do the billing.
are the utilities still officially in your name? if a tenant doesn't pay, are you still on the hook for it or is there recourse? do tenants have to pay a deposit like with city utilities?
Hello, I am sales manager for one of the largest submetering companies for the midwest area located in Michigan. It can be a great way to lower operating expenses and recover costs.
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Thanks!