Determining whether to separate water/electric meters for 5 unit

[Jason Thomas]

Hi all,

I have a small 5 unit apt complex in NJ and want to know whether it makes financial sense to separate the water and electric meters. Is there a formula or easy way to determine whether the upfront Capex costs are worth it in the long run? I intend to hold onto this property for quite a while so I am leaning towards separating out the meters but wanted to get some advice or hear out reasons why that may not be a good idea. I'm guessing it may cost about 15K to get it all done.