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Can You Make More Money If You Have a Duplex on a Norfolk Common Water Meter?

Can You Make More Money If You Have a Duplex on a Norfolk Common Water Meter?

Duplexes in Norfolk are usually used as an additional income source by leasing out the additional unit to tenants. While signing the lease, the basic maintenance and upkeep of the property are mentioned. However, the cost of utilities and bills can be an issue sometimes.

Water meters are installed by the government to measure water consumption and every house in Norfolk has one. Ordinarily, every apartment, every house is expected to have an independent water meter. However, at times, duplexes may have a common water meter, i.e., all the tenants in the duplex share the same meter.

There are some advantages to this arrangement, which can save you money as a Norfolk property owner, in the following ways -  

Lesser Maintenance Costs

Having two water meters leads to double the maintenance expenses. A common water meter can help reduce maintenance costs as you are required to get only the shared meter serviced. In addition, energy consumption is lowered by accurately monitoring water supply, usage, and wastage. With a single water meter, the annual maintenance expenses are, hence, automatically reduced.

Tracking Individual Water Usage for Fair Charges

One of the most common complaints of splitting water costs is that ‘he uses more water than I do, why should we split the cost evenly?’ 

With the help of flow meters installed for both the units of the duplex, water meters enable tracking of individual water use, including water wastage. This helps to break down the overall bill and divide the costs fairly among occupants of both units.

Under the Ratio Utility Billing System (RUBS), the water usage is calculated based on the square footage of the unit, the number of bathrooms, or the number of occupants. Tracking individual water usage can also be done with property management software. 

With the help of the utility bill and ratio, it is possible to calculate each tenant’s water usage in units and charge occupants of both units a fair amount. Other than that, tracking water usage regularly urges tenants to use less water, since no one wants their water bill to shoot through the roof.

Less Water Bills, More Water Conservation

person cleaning hands under water

With the RUBS implemented, tenants have to be mindful of their water usage. As a result, they automatically start thinking about water conservation. Conserving water by taking baths instead of long showers and turning the tap to a minimum flow might look like small changes, but have the power to result in significant water conservation. 

Additionally, fixing sink leaks and drips in pipes are small steps that can help curb water usage, which ultimately results in saving you money on the water bill in the long run.

Using the right property management software can also help you as a property owner reduce the overall costs on the common meter and, in turn, cut down the maintenance costs significantly. For more such ideas on how to optimize income from your Norfolk duplex, connect with a qualified Norfolk property manager, such as Doud Realty Services, who can give you great advice.