Financial Planning and Analysis

Can I Have Utilities in Two Places?

Navigate the complexities of managing utility accounts for multiple properties. Get essential insights on setup, billing, and service-specific considerations.

Maintaining utility services at two locations is possible. Utilities include essential services like electricity, natural gas, water, and internet connectivity. Managing services for multiple properties is feasible but involves practical considerations for setup and ongoing management. Utility companies allow customers to have separate accounts for each physical address.

Scenarios for Multiple Utility Accounts

Many individuals manage utility services at more than one location. A common scenario involves owning a primary residence and a secondary property, such as a vacation home. Maintaining services at both ensures comfort and convenience, even when the secondary home is not continuously occupied.

Another situation involves temporary relocations or extended stays away from a primary residence. For instance, someone on a work assignment or providing family care might keep utilities active at their main home while establishing services at a temporary living arrangement. This prevents the need for disconnections and reconnections upon return. Landlords maintain utilities for rental properties, particularly between tenants or for common areas.

Transitioning between homes also necessitates an overlap in utility services. Activating utilities at a new residence before disconnecting them from a previous one allows for a smoother move, ensuring services are available at both locations during the transition. Establishing a new business location while retaining residential services is another instance where dual utility accounts are required.

Managing Dual Utility Accounts

Setting up and managing utility services for two separate locations requires careful attention. Each property will necessitate its own account with utility providers. When initiating new service, companies require personal identification, such as a photo ID, and proof of residency or ownership, like a lease agreement or deed.

Utility providers require a security deposit, especially for new customers or those with limited payment history. These deposits can vary, depending on the service type, estimated usage, and the customer’s credit history. Deposits are refundable, either after a specified period of on-time payments or upon termination of service.

Billing for each location will occur separately, meaning two bills for each utility type. Most providers offer various payment methods, including online portals, automatic payments, or traditional mail. Maintaining organization of account numbers, billing cycles, and payment due dates for each property is important to avoid missed payments or service interruptions.

When transitioning services, such as during a move, contact utility companies at least two to three weeks in advance. This allows for coordination of service activation at the new address and disconnection at the old one, often with an overlap period to prevent service gaps. Utility companies can facilitate transfers of service or the establishment of new accounts, depending on whether the move is within the same service area or to a new one.

Utility Service Type Considerations

Different types of utility services present unique considerations when managed across two locations. For electricity and natural gas, billing is based on consumption measured by meters, in kilowatt-hours (kWh) for electricity and cubic feet or cubic meters for gas. Utility companies may send meter readers, or smart meters may automatically transmit readings.

Water and sewer services are managed by local municipal authorities and are directly tied to the property. Billing for water includes a fixed monthly charge and a variable charge based on the volume consumed, measured in units like centum cubic feet (CCF) or gallons. Sewer charges might be based on water usage during specific “winter months” to account for lower outdoor water use.

Internet and cable services involve checking availability at each address, as providers’ networks can vary by location. If the same provider serves both locations, it may be possible to transfer equipment like modems and routers, though new equipment might be provided. Customers should inquire about potential differences in internet speeds, plan options, and any early termination fees if a contract must be broken to switch providers.

Other services, such as trash and recycling collection, are included in municipal utility bills or property taxes, making their management location-specific. Some properties, especially multi-family units, might utilize submetering or ratio utility billing systems (RUBS) to allocate costs to individual units, which landlords may manage. These systems ensure tenants are billed for their specific or proportional usage, promoting conservation.

Previous

How Much Should Your Net Worth Be at 30?

Back to Financial Planning and Analysis
Next

How Do You Help a Child Build Credit?