Is it a terrible idea to NOT split gas?

[Kevin R.]

In my neck of the woods, multifamily landlords generally pay for water and pass on electric and gas to their tenants. The triplex I have under contract technically has separate gas and electric meters for each unit, but in reality, gas is not split since the home is heated by a single steam boiler. Zoning each unit separately for heat would cost anywhere from $15-30K depending on which approach is taken.

I keep reading about how it's important with MFHs to sub-meter all utilities except water, but I'm having trouble justifying paying all that money when I can simply split the gas bill evenly between the three units (or use a method based on square footage or number of occupants). I would be sure to (a) make sure prospective tenants are aware of how I will split utilities, (b) put appropriate language into the lease to cover my butt, and (c) send out a copy of the gas bill every month to my tenants to be as transparent as possible. Am I overlooking something here?