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Updated almost 9 years ago on . Most recent reply

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66
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Simon Wold
  • Investor
  • Seattle, WA
29
Votes |
66
Posts

Should I install seperate electricity meters?

Simon Wold
  • Investor
  • Seattle, WA
Posted

Hey,

So I am looking at a 22 unit deal in Lakewood, WA.  Going through the numbers I noticed that the building currently has one master meter for electricity, which the owner pays for out of pocket.  Does anyone have experience with going from a single electric meter to multiple? It seems to me that the costs associated with this would be astronomically high?  Would anyone recommend doing this as a value add play?

Thanks in advance!

Hans

Most Popular Reply

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2,055
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Jeff Greenberg
  • Real Estate Consultant
  • Camarillo, CA
1,388
Votes |
2,055
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Jeff Greenberg
  • Real Estate Consultant
  • Camarillo, CA
Replied

Find out what is common in the market.  If you are the only one charging for utilities it could be a hard sell.  If some or many of the properties are having the tenants pay, then it may be a viable value add. Most likely you will have to lower the rents some when you first implement the change.

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