Worth Installing Water Meters on Non-Metered Properties?

Question

My approach has always been to avoid installing water meters on non-metered property. My thinking is that it is better to have a predictable cost (my average bill is about $950 for SFR's, including the garbage tax) vs an unpredictable bill where every small leak can cost me significantly more. I've had metered properties that had a large leak in the basement go unnoticed by the tenant resulting in a $10K water bill. This may only happen once in a while, but it sure offsets a lot of the potential savings of a metered property.

I understand that the Meter Save program by the water department will guarantee that your metered bills are not higher than your current bills for 7 years, but I plan to keep these properties for longer than that.

Curious to hear other approaches/thinking/experiences?

Thanks!

I understand that the Meter Save program by the water department will guarantee that your metered bills are not higher than your current bills for 7 years, but I plan to keep these properties for longer than that.

Curious to hear other approaches/thinking/experiences?

Thanks!

Jacob R. · Answer

Agree 100% on the risk for the leak manifesting in a large bill. Just had my bill more than double in a 4 flat! Still have yet to be able to identify the leak itself, but either way is expensive....either new water line, or big water bills until I can get this sorted!

That being said, I definitely lean towards being able to (somewhat) control a cost. Installing water saving features in the building can help lower your cost.