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A lot depends upon local law. I've looked into submetering one of my properties, built as a duplex in 1955 time frame.

If you want the utility company to separately bill they need to agree. Also, in my case for water & electricity, I'll need three meters, one for each unit and one for the common area.

Local, Orange County, CA, plumbers charge about $400 for a water meter.

An alternative is have only one bill sent to you and you divide the bill based upon some reasonable standard such as:
- ratio of total square feet allocated to each unit
- number of bedrooms
- number of residents
if appropriate with an adjustment for common areas.

I believe there are companies which will do the calculation and billing for you. Look for the phrase RUBS, Ratio Utility Billing System. Here's one which I know nothing about:

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