8 Unit Deal - Utility Question

[Seth Williams]

Hey All, came across a deal im analyzing and had some questions. The long story short is the 8 unit has 8 gas meters for the units cooking, but the 9th meter is the house meter and fires and OLD furnace, I have all the utility bills including the bad winter months. 

I remember reading on here that there are ways to separate cost of utilities based on ownership %, or rental % etc, But I cant remember the strategy, what it was called and so on. I know obviously I could purchase and add 8 new heating systems and it would be a great value add, but obviously costly. 

In Massachusetts, does anyone know the legality, and if this previously mentioned unnamed strategy would work? That way I could just replace the boiler, if I wanted to, with one, and still pass on the utility cost. 

Ill probably go the route of 8 new boilers if I do close, but was thinking about this and wanted some hot takes. Thanks BP.

[Sergio Fetter]

@Seth Williams

@Hadar Orkibi is absolutely correct. Contact a property manager to find out more about the market. Even if legal in your state, if your property is the only one doing it, it will shun away your prospects. This is specially true if you are targeting blue collar workers, they are less willing to accept an upcharge.