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If the windows are old single pane windows then definately update to energy efficient double pane windows. @Brett Lee Was that with UGI?I know this reply is years later, but two other things to consider is how unpaid water get liened and if the tenant is current on their utility bills.
Another thing to consider if you do have separate meters is never refunding the deposit until you are sure the renter has paid their utilities, put it in the contract.Awesome responses everyone!
The numbers are borderline working with the current rent and ignoring the gas bill, so installing separate meters and having reduced rents would be a potential no-go.Anyways, just wanted to get your thoughts on the process and see how it went.You raise a good point about the age of the property though (the one I was looking at was of a similar age).
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If all of these prove costly, just have them pay gas for heat and then as the budget allows switch the other gas appliances over to the individual meters.
The utility ran the line to the house and installed the meter for free. If you only have the one shut-off like you now have, and one tenant refuses to pay their water bill, the water company will shut off at the street - affecting all units. I don't think I'd lose sleep worrying about this, but you're right, it Hi @Michael E. - unfortunately, the deal referenced above didn't end up working out.
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Calling the gas company about the meters is a good idea too, ours used to put meters in for free, but they changed their policy to 800 each.
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A plumber just had to split the lines in the house itself. 12 0 obj
They are telling me that to re-meter this 4-plex, it would cost $936 for the first unit, and then $338 for every unit after that (so it averages out to $487.50 per unit in this case - or $1,950 total). The only cost then would be to run new lines from teach individual meter to the individual furnace and water heater (if applicable). - ALL of the utilities are paid by the landlord (which basically kills 80% of the net profit each year). A few thousand bucks? In hindsight though, while it would have been painful to cough up several thousand dollars to fix this issue, it also would have been a serious cash cow over the long haul. posted on 04 March 2019. 10 0 obj
in utilities. there is only one gas meter, one electric meter and one water meter - i.e.
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NO. Was there a significant amount of related work, beyond just the meters themselves (e.g. endobj
It's common in my area for tenants to pay for all utilities (either directly or indirectly via reimbursement) but I'm at least a little concerned that rent would have to drop if the tenants are no longer getting their heating bill paid for. About Us > Press Room > 2017 > Southern Company Gas to Sell Elizabethtown Gas and Elkton Gas to South Jersey Industries in $1.7 Bil Newsroom Southern Company Gas to Sell Elizabethtown Gas and Elkton Gas to South Jersey Industries in $1.7 Billion Deal.
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Remember that you can't just start making tenants pay for their own gas.
I finally got some answers from the gas company in my area (DTE Energy).
Elizabethtown Gas Customer Service Center locations: 12 West Jersey St. Elizabeth. That's kind of a non-starter unless I can get it separately metered.
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The cost of this "improvement" is an important, decision-making piece of data (because if I can't unload this cost onto the tenants, the deal won't work). Is it worth the cost? Pay By Mail Elizabethtown Gas Company P.O. Removed N12C and N1PK segments and removed from REFTD codes ... 1-to-2 Exchange: One old meter replaced with two new meters One NM1*MX Loop, One NM1*MA Loop for the meter being added At th end of the day utilities should not make a big difference in profitablity if included or not as it can be priced in such a way to account for it based on area trends. About $600 all said an done.
This doesn't include any new gas lines that may be needed (which are about $9.75 per linear foot).
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