Whether you manage a single unit property, a duplex, several units or even a large apartment complex, you have the option to either sub-meter or not. Sub-metering comes down to what makes more sense to your unit/units and your personal needs.
While managing a single unit property, it can be quite easy to submeter on your own. You just figure out the cost per gallon of water, per kilowatt hour (kWH) for electricity, or cubic foot for gas. After figuring out the price, you multiply it by the tenant’s usage for the billing period based on their individual meter reading.
You then read the meters yourself and send your tenant a bill based on their usage. However, doing this for 15, 30, 100 or more units can be quite tedious. So if this seems like too much of a hassle to already hectic work life, you do not need to do it alone. You can actually hire a sub-metering company like Multi Family Utility Company to take care of this time-consuming task so you can get back to the essential things in life.
Like most things in life, you can either do it yourself, or you can hire a professional to do it for you. Although doing it yourself will save you money, it will not save you time or that headache! Having a professional assisting you will cost you, but it will come with a service and save your precious time.
Aside from not having to deal with it on your own, you are also putting your tenants at ease. Tenants will always prefer to be held accountable for their usage instead of anticipating the cost of their energy bill on how much energy their neighbors decided to use. If their neighbors are wasting unnecessary energy, one of the only options is to raise the cost of rent. Increasing the cost of rent is never fun for the tenant who is careful with their energy, gas and water usage. So avoiding this altogether will help your relationship with your tenants, and save you on unnecessary energy costs.
Submetering also allows you to pinpoint the exact area where most of the energy is being consumed. It can be broken down into floors, departments, even equipment to enable you to address the issue. With this ability, you can also educate your tenants on exactly how their energy is being utilized, and allow them to monitor their meter themselves.
Submetering is a world of benefits. It allows you to monitor your tenant’s usage, and bill them for what they use, it saves you the headache of having to raise rent costs, and it teaches your tenants about responsibility for their usage. The added benefit of having a submetering company regulate this for you so that you can focus on other issues is incomparable. MultiFamily Utility company can assist you with all your submetering questions and needs. What are your favorite benefits of submetering? Let us know below! We would love to hear from you.