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Should you separate your water meter for your rental properties?
Even though your proposed new building will be a legal 2, 3 or 4 unit, in most cases the municipality will only recognize it as a single household from the standpoint of city services. This means that you will not likely receive a separate water meters.
One thing you can do is install a sub-meter and feed that exclusively to the new unit. Even though you will receive a single water bill, at least it will be easier to capture and calculate the usage between occupants and charge back accordingly.
Here is why two separate water meters just make sense for your multi unit conversions.
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👉Signup for our Free Investing In Second Suites & Garden Suites Webinar:
👉Have you signed up for our Training Program?:
Our training program is back! Starting with live sessions on the week of May 16th.
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Gain The Knowledge & Experience From Our 300+ Second Suite Projects & Start Profiting Immediately! In This Training Program You Will Learn The 4 Main Success Pillars Of A Second Suite Conversion Project
1. Financing The Project (BRRRRR, HELOC & more)
2. Finding The Ideal Property (Zoning, parking requirements, placing an offer, pre-close preparations & more)
3. Renovating The Property The Right Way (Permit drawings, Pre Renovation, structural work, windows & doors, HVAC, framing, plumbing, electrical, fire separation & more)
4. Renting Out The Property For Maximum Rent (Rental strategies, refinance & more)
5. You will also receive 8 extra BONUS Content
– Second Suites City Guide
– Garden Suite Technical Workshop
– Trusted Contractors Rolodex
– Live Virtual Training (Property conversion walkthrough)
– Suite Additions VIP Facebook Support Group
– Second Suite Proforma Spreadsheet
– Second Suite Gantt Chart
– Second Suite Budget Spreadsheet
We want to share the pitfalls to avoid (trust us, we learned from many!), in addition to where you can add a tremendous amount of value.
Our goal is for you to gain 10x the amount of value for what you invest into the program, for each property!
You will continue to gain even more as you invest in more properties.
👉Signup for our Free Investing In Second Suites & Garden Suites Webinar:
👉Have you signed up for our Training Program?:
Our training program is back! Starting with live sessions on the week of May 16th.
Gain access to our full course – space is limited so sign up now! – Use Promo Code: EARLY2022 for 0 Off
IMPORTANT* This guide is intended for informational purposes only. DO NOT rely on the information in this guide for any real estate transactions. Since every property is unique, you must perform your own due diligence with the City and with a professional consultant. Suite Additions Inc., and its affiliates are not liable for any loss as a result of information you receive in this guide.
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