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Updated almost 2 years ago,
Is it worth it to meter my 12 unit complex separately for water?
I purchased my first multifamily property - it is a 12 unit property. None of the units are metered separately for water and the previous owner paid the water bill for the tenants and included in the rent. I wanted to get thoughts from the BP community on the value of metering them separately. It will cost roughly 2k per unit, we are doing a full renovation on the property - new plumbing so we are doing work anyway. Just wanted to get some thoughts or advice on the value of that rather than paying the water bill and adding to the charged rent. The property is a total rehab value add, my thought was metering separately could boost my NOI which will help my valuation down the road. Any feedback is greatly appreciated.