Separating electrical in multi-family. Costs associated?

[Brad Hoover]

Hey all Im looking at a multifamily building. Looks like it already has great cashflow, but the tenants are not on separate electrical meters.

What are the costs associated? What steps do you take to separate them?

Any advice is greatly appreciated, thanks!

[Alina Trigub]

@Brad Hoover Prior to deciding to put the electric bill back on the tenants, find out what is the common in the area. Is it a norm for landlord to pay for it, or is it paid by the tenants in the surrounding apartment buildings.

Also, in addition to getting a cost of installing separate electric meters, looks into doing RUBS - Ratio Utility Billing System) .A Ratio Utility Billing System allocates the property's actual utility bill to the residents based on an occupant factor, square footage factor, or a combination of both.