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Updated over 5 years ago,
5 unit property with utilities included
We are looking at a property that was once a single family home that now has been broken up into five units. All units are currently occupied and all leases renewed at $700/unit. The landlord is responsible for all utilities (water, power, gas). Without dividing out the meter, what's the best way to recoup some of these expenses? The listing agent said something about a shared washer and dryer that the current owner is missing out on as added cash flow, but I'm not sure that would cover all utilities for all five units and may be difficult to monitor. With all the leases being newly renewed are we even able to add anything about a change in how utilities are being paid/split/etc?