Updated over 7 years ago on . Most recent reply
How to solve for SHARED UTILITIES in Michigan
I may have broken the cardinal rule by purchasing a multifamily mixed use commercial/residential property in Michigan that has shared utilities AND electric heat. The two commercial units share one meter, and the three residential apartments share another meter, and electric bills are astronomical. I looked into sub metering through the electric company, but the electrical cost associated was WAY too high for the amount i had budgeted for renovations. My concern is that if i just jack up rents and say utilities included, the sticker price will scare people away. What are my other options? RUBS?