Updated about 6 years ago on . Most recent reply
Splitting multifamily utilities
Hi there.
I've been analyzing lots of multifamily houses. What keeps killing the profit are the utilities. Many of the properties have only one meter for electrical or water.
Have any of you had success with tenants splitting the bills 50/50?
How is that explained to the tenants?
Thanks!
Most Popular Reply
@Chris Mackinlay I agree with @Charles Seaman shop the competition in your area and see what other owners are doing to recoup the water expense, if it's being done at all. If the competition in the area doesn't have a bill back plan, it may not be worth it for you to put that on your tenants. You can potentially lose tenants to your competition. Is it feasible for you to install separate water meters?