Utility benchmarking is the process of tracking, analyzing, and reporting the costs and consumption associated with a property. This information is then used to compare to similar properties for the purpose of identifying potential improvements. Changes in performance are tracked over time. Utility benchmarking is a fundamental part of a residential asset management program.
Benefits of Utility Benchmarking
- Energy savings up to $1 per square foot
- Increased asset valuation, as much as $13 per square foot
- Understand the energy and water performance of the property
- Reduction of operating expenses
- Identify areas for improvement and future cost savings
- Isolate billing errors
- Identify malfunctioning equipment
- Participate in incentives for energy- and water-saving improvements
- Apply for green loans
- We handle regulatory compliance on your behalf
- Provide an attractive benefit for conservation-minded residents
If you’re wondering if utility benchmarking applies to you, here are the current requirements:
If you own multifamily property in California, you may be required to benchmark. Starting June 1, 2019, multifamily buildings with more than 50,000 square feet of gross floor area, and properties with more than seventeen residential meters are required to benchmark their utilities.
Utility benchmarking started in Austin, Texas, in 2008, for properties with 5+ units. Since then, many other cities have added a requirement for benchmarking:
- Atlanta, 25,000 square feet
- Berkeley, 50,000 square feet
- Boston, 35,000 square feet or 35 units
- Cambridge, 49 units
- Chicago, 50,000 square feet
- Denver, 50,000 square feet
- Evanston, 100,000 square feet
- Kansas City, 100,000 square feet
- Los Angeles, 100,000 square feet
- New York, 50,000 square feet
- Orlando, 50,000 square feet
- Philadelphia, 50,000 square feet
- Portland, ME, 50+ units
- Seattle, 5+ units
- South Portland, ME, 10+ units
- St. Louis, 50,000 units
- Washington, DC, 50,000 square feet
You can find more information on California’s benchmarking regulations at the opens in a new windowCalifornia Energy Commission.
Contact our sales departmentcreate new email for more information.
Get a FREE Consultation Now!
Please complete the form to learn about our utility billing services and submetering solutions.
MULTIFAMILY UTILITY COMPANY CUSTOMER TESTIMONIALS
P.O. Box 86531
San Diego, CA 92138-6531
Email | (800) 266-0968
P.O. Box 86229
San Diego, CA 92138-6229
Account Managers work directly with the property to assist with billing and training.
Email | (800) 266-0968