Sub-metering Water in Connecticut
Hi everyone, I'm looking at a 3-unit in New London. During due diligence I've discovered that the water/sewer costs average $180/month for the building. This sounds high to me. The town confirmed that there are usage spikes (2X) in the Summer, probably filling kiddie pools or similar. The town also said that the usage is nearly twice that of an identical property next door. My questions for the community:
- Do the costs sound out of line?
- Does anyone have experience with sub-metering water in CT? How did it go?
- Any other thoughts to bring down the costs? I'd like to cut them in 1/2 to better align with my pro forma and what appear to be local averages.
Most Popular Reply
Our New London 6 unit averages about $30-40 per unit per month, all 1 and 2 bed units. The duplex sees a bit higher, but each unit is 4 bedroom. However not anywhere near the $60 per unit per month your seeing.
If/when you look at the property, check for running toilets and leaking faucets. It might not seem like much, but it really can add up 24hr a day 7 days a week. Removing an outside hose bib will also reduce the usage if one is there.
As far as sub-metering, the tenant population in NL will be very confused, water is almost exclusively included. Not saying it'll be impossible, just saying it's definitely out of the norm.
-Dave