Sub-Metering Power and Water - Understanding Check

[Jesse Smith]

I've read quite a few posts about sub-metering water and power for a large home that was converted to multiple units.  However, I feel like I may be misunderstanding how it works.  I've contacted a local electrician and the power company to ask about sub-metering for power, and neither of them seemed to know what I was talking about.

I'll explain how I picture it working, based on my understanding.  Please correct me if I'm off base:

Property Description - Large house converted to three units (A, B, & C), with a common laundry room.  The set up currently has only two electric meters and two water meters.  

• Unit A has its own meters and its own breaker panel.
• Unit B, C, and the common area are on a single meter for water and one for power, with a single breaker panel.

My Understanding of Sub-metering Power - An electrician should be able to install sub-meters to measure the separate power usage from Unit B, Unit C, and the common area.  I would pay the full power bill from the electric company, and then bill Tenant B and Tenant, based on their individual consumption.  I would cover the common area.  

Is this how it works?  If so, where do the sub-meters fit into the system? 

• Breaker Box --> Sub Meters --> Actual Meter?
• Breaker Box --> Actual Meter --> Sub Meters?

My Understanding of Sub-metering for Water - Similar to the power solution.  I understand that the city water utility (or a plumber) would install meters to measure the water usage individually for each unit.  If it's too cumbersome, I may just cover water and raise rents slightly.

This seems like a relatively simple solution, but I've gotten nowhere with the local electrician or the power company.  I haven't reached out for the water yet.  If you've used this solution, please advise.  

• Who did you call to set it up?  
• What does the set up look like?
• How do you read the sub-meters and translate that to a bill for your tenants?  
• What sort of cost should I expect for adding sub-meters?

Thanks in advance!