Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

110
Posts
42
Votes
Jessica Jay-Maleski
  • Real Estate Agent
  • Scottsdale, AZ
42
Votes |
110
Posts

Multifamily property with shared utilities - help!

Jessica Jay-Maleski
  • Real Estate Agent
  • Scottsdale, AZ
Posted

Hi all!

I recently purchased a 4-plex (two buildings with 2 units per property) in Phoenix, AZ. Because the units are not separately metered in any way, I pay all utilities. I am finding that with each utility bill I have one fun surprise after another...and they are always higher than expected. The property was vacant until just a few weeks before I purchased it so we had very little to go on to determine what utility costs might be and of course we underestimated... such is life. Anyway, I wanted to put a few details out to the community to see if anyone has any suggestions:

1. Electricity bill is fairly high - each unit has window AC units (some units have 2). Does anyone have any tips or tricks as to how to optimize their function to reduce the bill, or even perhaps another suggestion entirely regarding HVAC?

2. Separate metering - any suggestions in this regard? Has anyone found that this is a cost-effective thing to do? My goal is to convert all of my units to government program funded, so this might not make sense since it seems as though most government programs require that the landlord pay all utilities anyway.

3. Has anyone had experience installing solar and have any feedback on whether this makes sense for a property like this?

In general, does anyone have any tips/tricks as to how to keep utility bills low in a situation like this where it is almost impossible to isolate where there may be an issue since there are not separate meters and therefore no way to tell which unit is using what and where a breakdown might be occurring? I plan to hold the property for 5 years at the very least so I'm not opposed to making up-front investments that will help my return over time and of course improve my numbers to maximize a sale price when I decide to sell it.

Any suggestions would be GREATLY appreciated!

Loading replies...