Curious to hear your opinions. Doing a new construction 28 unit building in Philadelphia.
If you’re familiar with Philly, water is a lienable utility and is never placed in the tenants name. To capture water income what is the best route? Options are submetering via meter spread and installing WiFi meters where the domestic water line ties into the building, there’s RUBS and there’s simply adding a fixed water fee to each lease.
What would you do and why? In your opinion what are the pros and cons to each route?
Wouldn’t submetering be best to have an accurate read on usage and pass it directly along to the tenants? Seems like that might be more advantageous if you decide to sell it later on since so many people end up submetering after the fact.
I tend to agree and this is the current plan. Wanted to hear other opinions
biggest we have is 6 unit and we do RUBS for all our multis, when there was a running toilet in one unit of the 6 causing a higher water bill we had to check all units for leakage. I don't think that would be reasonable for a 28 unit, I would find a way to submeter that building.