Majority of multi family is separately metered so the tenants pay utilities.

Next step: get two bids each way that include service upgrade, per‑unit metering, and operating cost estimates, then choose the lower all‑in over 5–10 years.

Great points, Jeff — and you’re right to highlight that the expense ratios are unusually efficient for a coastal STR.A couple of clarifications on the numbers:The current owner self-manages, which keeps cleaning and maintenance costs lower than a third-party STR manager would typically charge.Some of the repairs and CapEx were front-loaded in prior years (new flooring, appliances, and paint), so last year’s P&L reflects more of a stabilized-operations scenario.The utilities figure is accurate — it’s higher due to being master-metered for the property — but the other OPEX categories are slightly understated if you were to underwrite this as a fully managed, third-party operation.If I modeled it using a professional management assumption plus normalized reserves, the operating ratio trends closer to 48–50%, which aligns with what you mentioned for coastal STR multifamily.I appreciate you calling that out — it’s a great reminder of how much variance there can be between owner-operated and institutional-style expense reporting, especially in hybrid STR assets like this.Here's the owner's profit and loss statement for the exacts of the 2024 year.

Having the utilities separately metered protects you long-term and makes billing more straightforward, regardless of who lives where.3.

Her gas meter has been removed and she has no gas.

Confirm market rents with a property manager, verify separately metered utilities or price in the fix, and budget for vacancy, maintenance, and reserves so your buffer stays intact.

In my case the property is on well water that is now shared by both units, but the power is separately metered, as I brought in a new 200amp line for the ADU.

Most hotels dont have kitchens in the rooms , water heaters , rooms are small , electric isnt metered per unit .

Hi everyone,I own a 12-unit apartment building in Euclid, Ohio (fully master-metered for water/sewer).

Some utility providers want you to have the agreement on file with them to avoid claims of shared metering.