Submeters provide fair allocation of the utilities they meter. Beyond that, it’s good business practice to have residents or commercial tenants pay for the utilities they consume and to outsource the billing.
- Next to mortgage and taxes, utilities are one of the biggest monthly expenses
- Conservation is encouraged if a resident is paying their own utility bill
- Billing residents can reduce your property’s overall utility consumption up to 20%
- Answering resident utility questions is time-consuming for on-site staff
- Utility rates increase frequently, these can cause unexpected budget stress when the owners are paying the bills
- Master utility bills often have consumption or rate errors but are tedious to audit. Your billing provider should be watching for these