I just got my water bill and learned a hard lesson in variable costs. My water bill in my multifamily went up a hundred dollars with my new tenants and the City of Waukesha is expecting to raise their water bills up to 300% in the next few years. This will definitely impact my cash flow. It is important to conduct market research in an area in which you may invest in to prevent future problems. Keep this in mind my Bigger Pockets friends! I learned the hard way!
Hi @Jason V. I have property in Waukesha and saw the notice about the water bills. One thing I caught was that the water rate will go up, but other parts of the bill will go up not so much, so it may not be so bad. I'm also curious how it will affect the single-family rental dynamic in Waukesha, where the tenants pay the water bill directly.
Any way you can do split metering on your multi-family?
I saw that also. I am curious as to see what happens with the price of rents because of this. I thought about splitting the meter and will have to analyze the rents when the water bill goes up. We already have low flow shower heads in the bathrooms, may need to change out the old toilets, as they use a lot of water. The joys of being a landlord!
@Jason V. Ouch! sorry to hear that man. Just par for the cost I guess. Water is the single biggest expense in my N. Milwaukee properties.
I have another single family rental in Milwaukee, but the tenant pays the water bill. My home water bill is $100.00 a month.
Have you guys @Jason V. @Daniel Hanson read this article? More to do with water!!!! http://wuwm.com/post/city-considers-mandate-requir...
@Shawn Ackerman I hadn't seen that, but it sounds like the city is willing to work with owners and spread out payments.
@Shawn Ackerman I hadn't seen that either. Thanks for sharing, should be interesting!
@Jason V. definitely a good read. The debate is currently active with the local legislature.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.