Worth Installing Water Meters on Non-Metered Properties?

[Jake C.]

My approach has always been to avoid installing water meters on non-metered property. My thinking is that it is better to have a predictable cost (my average bill is about $950 for SFR's, including the garbage tax) vs an unpredictable bill where every small leak can cost me significantly more. I've had metered properties that had a large leak in the basement go unnoticed by the tenant resulting in a $10K water bill. This may only happen once in a while, but it sure offsets a lot of the potential savings of a metered property.

I understand that the Meter Save program by the water department will guarantee that your metered bills are not higher than your current bills for 7 years, but I plan to keep these properties for longer than that.

Curious to hear other approaches/thinking/experiences?

Thanks!