Renters to Be Tapped for Cost of Water
On the other end of the housing spectrum, bad news for renters: They’re more likely to start paying for their water.
National Water & Power Inc., a fledgling Irvine company that installs and operates utility meters at apartments, has reached the milestone of 100,000 units under contract.
That’s up from 57,000 at year-end, an increase due mainly to new contracts signed with Irvine Apartment Communities Inc. and Sares-Regis Group, the company said.
National Water & Power is betting that a trend toward charging tenants for water will continue. The recent growth indicates “growing acceptance of separately billing residents for water,” said Gary Smith, the company’s president.
E. Scott Reckard covers real estate for The Times. He can be reached at (714) 966-7407 and at firstname.lastname@example.org.