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Updated almost 7 years ago,

User Stats

260
Posts
199
Votes
Seth Williams
  • Real Estate Broker
  • Winthrop, MA
199
Votes |
260
Posts

8 Unit Deal - Utility Question

Seth Williams
  • Real Estate Broker
  • Winthrop, MA
Posted

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.

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