Renting main floor to a different tenant than the basement

[flyingsquirrel]

I am working on this now.

Can I install separate meter for hydro, water and gas?

Or just hydro?

Do you know of anyone who can do this in Barrie?

How much is it going to cost?

 

[WadeFenner]

If its a single family home that has been suited you probably can't have another meter installed.



Most senior REIN members I know, myself included, don't rent out suites to people on seperate leases. We take what would be the gross rent as if we had rented to two seperate parties reduce it by say 5-10% (if required) and rent to one group who are all on one lease and they deal with the utilities.



You'd be surprised how many people are looking for this type of arrangement. Not to be confused with renting to one person who sub-lets the basement because this creates a second domicile which is illegal in most single family homes.



For example: I have a place where two sisters with their boyfriends moved in all on one lease, one pair live up and one pair live down. I have no complaints, no politics, and dealings with the utilities. Less turn-over, less hassle, less costs.



In Alberta utilities are not considereed to be "Collected as rent" unless there is a signed agreement where the tenant agrees to pay the utilities or half of the utilities (Utility Agreement as mentioned) and in this agreement it states "If the tenant does not pay etc, the landlord can treat it as non-payment of rent" as it is part of the rental agreement.

 

[robhil]

In Barrie, the city will typically only allow one meter to the one title on the property. If you want to separate the hydro it will all depend on how the wiring is done.



If the wiring was done right up front it should be a relatively easy job for about $2000.00 or less. However, if it has been done by someone else, then an electrician may have a while making sure all the wires are done right for each unit, and also done to code.

 

[robhil]

In Barrie, the city will typically only allow one meter for water to the one title on the property. Also my understanding is that as of October, water billing will be done by the city not Power Stream. Owners will now receive notice if a tenant falls into arrears with their water.



If you want to separate the hydro it will all depend on how the wiring is done. If the wiring was done right up front it should be a relatively easy job for about $2000.00 or less. However, if it has been done by someone else, then an electrician may have a while making sure all the wires are done right for each unit, and also done to code.



One other thing is to consider the common areas. If you have a shared laundry room, that should be on a third meter.