Cost to Separate Hydro Meters?

[Nir]

Hi,I viewed a few plexes recently.
How expensive should it be to separate hydro meters where there is only one meter now?
Obviously, it depends on how difficult it is and as usual the cost varies greatly.
Still, just wanted a guesstimate - how much on average to do it in a 6-Plex?
around $2,500, $5,000 or closer to $10,000 if you had to guess?

THANKS.

 

[Thomas Beyer]

QUOTE (investmart @ Mar 22 2010, 07:07 PM) Hi,I viewed a few plexes recently.
How expensive should it be to separate hydro meters where there is only one meter now?
Obviously, it depends on how difficult it is and as usual the cost varies greatly.
Still, just wanted a guesstimate - how much on average to do it in a 6-Plex?
around $2,500, $5,000 or closer to $10,000 if you had to guess?

THANKS.
I assume this is Ontario ?

There are 2 costs: physical $s spent and energy/mental effort !

Assuming each unit is separately wired, ie. each with its own fuse, with a central fuse box, it may cost about $800 to $1200 per unit plus minor setup costs per unit .. maybe $300 to $500 for each device plus labour. So I`d say about $5000 for a 6-plex.

However, each unit may not be separately wired, then the costs are quite high as each unit has to be re-wired.

You will not be able to change existing rents as hydro is included ! Unless existing tenants agree to this change in writing (perhaps because they got a rent reduction or a one-time inducement by you) it will affect only new tenants, so the savings may take years to be realized !

related posts illustrating the complexity of these issues:
http://www.torontotenants.org/activism/sub...ro-sub-metering

http://www.submeteringforcondos.com/sub101.htm

http://eastyorktenantsgroup.com/2009/08/29/smart-sub-meters/


btw: Didn`t Ontario Hydro get renamed to Ontario Nucleo to show the true source of much of its electric power ?

 

[Nir]

Thank you Thomas, what a great input and response! exactly what I wanted - a general estimate.
Regards,
Neil