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Updated over 2 years ago on . Most recent reply

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Stefan Gray
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23
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Include Utilites on a House Hack?

Stefan Gray
Posted

I just got an accepted offer on my first multifamily. It's a 2 unit property (2 bed/1 bath & 1 bed/1 bath). I'm going to be house hacking and the units share meters (electric, water and gas). 

Should I include utlitilties or split utilites, say 40/60 (smaller unit pays 40% and I pay 60% in the bigger unit)? I understand that tenants can take advantage of included utilites, so I'll do my home work and establish a cap if that's the route I take.

Average rents for a 1 bed/1 bath in my area is $650-750 per month.

What are you all's thoughts? Has anybody else ran into this? What solutions have you guys come up with?

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Taylor Dasch
  • Real Estate Agent
  • Temple, TX
623
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Taylor Dasch
  • Real Estate Agent
  • Temple, TX
Replied

I am not sure of the cost, but I would definitely look into getting separate meters, I hate the idea of having to pay the tenants electrical/water, because I know if I wasnt paying for it I would probably not care about the usage at all. I set my house to 77 in the summer time, but if someone else was paying the bill I would keep it about 10 degrees cooler in here lol! Also, look into what other people in your market are doing. Is it standard for the landlord to pay the bills? If so then it wouldnt be worth getting two separate meters since paying the bills is the norm for the area. 

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