How
does submetering benefit a multi-unit or commercial property?
Submetering is one of the quickest growing services in the multi-family
property market. Properties in the planning stage or already under
construction are specifying water meters to be installed in each unit.
Existing properties are also jumping on the submetering train with
retrofitting; most commonly by installing hot water usage meters in
each unit.
1)
By Increasing Your Operating Income & Cash Flow
There are many reasons that management companies and property owners
are submetering, not the least of which are immediate savings. Costs
of utilities are spiraling out of control. Water and energy conservation,
in conjunction with cost recovery, are critical elements for organizations
like yours to wisely manage and maintain your budgets and profitability.
In a New York City apartment building not using submeters, average
daily water use ranged from 375 to 425 gallons per apartment per
day. An apartment building in Washington, DC, that did use submetering
was found to use from 90 to 160 gallons per apartment per day. (Rathnau,
1991)
2)
By Promoting the Conservation of Natural Resources
Utility submetering is the single most effective way for multi-family
property owners to encourage real conservation. Recent studies have
shown that making residents responsible for their own utilities
- if done fairly through submetering - reduces water and sewer usage
by up to 39%. Residents of submetered housing are much more conscious
of their water usage and more likely to report leaks than residents
where utilities are included in the rent. Leaks are not easily detected
in properties that do not utilize submetering.
3)
By Operating Your Property With More Efficiency
Increased utility costs can cause owners to raise rents or association
dues without any benefit to their bottom line. However, owners who
submeter can equitably allocate water costs to their occupants.
As costs rise, residents simply do not want to be penalized by their
neighbors' mismanagement of utilities. This proper distribution
of expenses is appealing to today's savvy tenants who want to be
empowered to keep their expenses in line with their lifestyle. Properties
that utilize a well-run submetering program have an effective selling
tool in a highly competitive market. Our friendly customer support
agents handle all of your tenants' billing and metering questions,
allowing your busy staff to focus on other details.
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