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Updated about 5 years ago on .
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HVAC splitting and Submetering
Good day all. I have a 7 unit building under contract. This is a recently renovated building that was converted from an old theater to a multi-family building. The current owner installed 3 new HVACS: one HVAC for 3 units on the 3rd floor, one HVAC For 3 units on the 2nd floor and one HVAC for a larger unit on the ground floor.
So there is one thermostat for each of the above floors and they are simply set to 70 degrees year round. I would prefer each tenant have their own HVAC systems or minisplits. Only reason I can think to why the owner didn't split the units is potentially due to costs (i.e 6 minisplits + 1 HVAC vs 3 HVACs). The owner also is paying for all the utilities.
The math works for rents and cash flow but would like to submeter this out. Any idea what the cost might be for something like this? I would submeter water and electricity. Would likely also need to purchase 2 zone minisplits for the 6 units. I can only imagine this may have been cost prohibitive which is why the owner did the above.
Any advice or suggestions appreciated.