Make The Switch To Ratio Utility Billing and Sub-Metering
If you own or manage multi-tenant properties, you know how important it is to control costs and maintain your rent at a competitive level. If you don’t have a utility billing solution in place, any volatile fluctuations in energy costs directly impact your bottom line. Plus, the multi-family market is very competitive and there isn’t much room to increase rents to compensate for climbing utility expenses. Consequently, more and more owners are making the switch to Ratio Utility Billing or sub-metering with Commercial Water & Energy Co. as a way to leverage against unforeseen utility price increases.
Benefits of Ratio Utility Billing and Sub-metering:
- reduce variable utility costs
- improve net operating income
- encourage conservation
- and increase property value
Ratio Utility Billing is a process whereby your existing utility bills are analyzed by our software and residents are billed their pro rata share of each utility based on a formula. Commercial Water & Energy can create formulas based on square footage, number of bedrooms or baths, number of residents, or a combination of all of these. Specific benefits of Ratio Utility Billing include the ability to implement a utility billing program with minimal capital investment and without intrusion in your tenant spaces.
Utility sub-metering is a process whereby an individual meter is installed to either monitor all or some of the individual resident’s use. Our billing software then bills at the same rate as your provider based upon their actual usage. When tenants are paying for their fair share, they are more likely to use less electricity, water, and gas. Thus, utility sub-metering instills an awareness of water and energy conservation that leads to increased efficiency and lower consumption, as well as a reduced overall cost on your master bill. Although a capital investment is required, the return in energy savings is always less than 24 months.
Ratio Utility Billing and sub-metering are two utility billing solutions available at Commercial Water & Energy. High-density tenant applications, such as apartments, condominiums, and commercial properties in metropolitan areas realize a significant impact on their bottom line with tenant billing solutions from Commercial Water & Energy. We make it easy for owners, like you, to make the switch to Ratio Utility Billing and submetering. From advising you on the best sub-meter system for your application and equipment installation to helping you choose the best allocation method for your asset, Commercial Water & Energy will serve as your consultant in this transition. Not to mention, regulation of Ratio Utility Billing and sub-metering may be controlled by statute. Each state, county, or municipal district may have rules regulating your options. Commercial Water & Energy is familiar with many of those requirements and will research your specific regulatory environment as part of our free property survey. This combined with monthly tenant billing, payment processing, and comprehensive reporting, Commercial Water & Energy is sure to help manage your portfolio every step of the way.