Make The Switch To Ratio Utility Billing and Sub-Metering
Favorable Market Rent Comparisons
Lease price, utilities, and amenities are some of the most important things tenants look for in a rental. Multi-tenant owner- versus tenant-paid utilities is an option renters weigh carefully as it directly affects their monthly expenditure. While some renters can easily accept a higher rent, knowing utilities are included, others prefer a lower rate, believing they can monitor energy/water consumption and make strides to keep utility expenditures low. Today’s tenants are savvy consumers, and as such, they do their homework on what constitutes a fair market rate for their target location. So, how do you stay competitively priced while simultaneously controlling utility costs? The answer is simple – with utility allocation and sub-metering billing solutions from Commercial Water & Energy Co.
Utility allocation refers to the process of analyzing existing utility bills and determining an approximate bill for all tenants based on formulas regarding square footage, number of bedrooms and baths, number of residents, or a combination thereof. Alternatively, in the utility sub-metering process, each tenant is billed based on their actual water and energy usage as ascertained by individual meters. These utility bill processing and billing systems effectively pass your master bill utility costs to your residents and help you avoid the erosion of your bottom line from ever higher rates. By allowing the resident to choose, through individual conservation measures, how much water and energy they really need to use, your master bill will go down.
Set the Fair Market Rent Value of Your Property with Confidence
When multi-tenant property owners do not have to recapture utility costs through higher rents, they are able to maintain a fair market rate and will compare favorably to the competitor who still must do so. Utility submetering, allocation, and expense management solutions from Commercial Water & Energy Co. will allow your tenant to decide how many dollars they want to invest in water and energy, and allow you to invest their rental dollars in other ways.
Tenants will be attracted to your property because your available spaces are well priced, they will know that they are being billed for their fair share of utility consumption, and they will be able to see how their energy conservation measures affect their utility cost. Plus, with Commercial Water & Energy’s web-based tenant billing and payment processing system, your tenants will be able to pay their bills online on a secure platform with 24/7 access. It goes without saying that this convenience is an important added amenity for your property.