Hello,

I just but a two-family (two levels) house in Gibbstown, NJ. The house only has one main circuit breaker panel feeding both apartments. My plan is to live in one unit and rent the other unit. Currently the house only has one electric power meter and one circuit breaker box. The meter is outside the house and the breaker box is in the basement. I need to add circuit breaker panel and power meter. I would like to know if it is OK for me to place the new circuit breaker panel in the basement next to the existing breaker panel. Or do I need to place the new breaker panel on the second floor where the second apartment is located. :(

Thanks!

Next to the other one, is probably easiest. They will need access to panel. If you don't want them access to that area(Your storage). Then Panel where they have access best.
If a second meter is allowed. Then you can see total Kilowatt hours on main, then read
Second meter use, then subtract, to find how much each used.
Only 1 panel to be on second meter to determine usage. May check Local Codes.