12 Most Important Factors When Choosing a Water Submetering Company
If you own or manage multifamily real estate, you may already use a submetering company.
If you are unhappy with your current company or considering a company for the first time, you should consider a few things.
12 Most Important Factors When Choosing a Submetering Company
Company History – Verify the submetering company’s history to ensure you don’t choose an inexperienced company
Pricing – Get pricing upfront for installation, billing, meter replacement, and software fees and clarify there are no hidden costs
Private or Public Company – Publicly held utility billing companies are limited with their capabilities
Customer Reviews – Check the companies Google Reviews to make sure they have great feedback from their current clients
Referrals – Ask for a few properties to contact and ask if they satisfied with their experience
Authorized Reseller – Verify they are authorized resellers of whichever meters you are purchasing
WiFi and Cellular Capabilities – Ask upfront if they have both capabilities since your property may require either
Meter Replacement Warranties – Do they offer warranties on any equipment you purchase from them?
Vacant Recovery – Verify they offer vacant recovery services
Customer Service – Do they have an in-house customer service center in case residents have questions?
Online Payment Portal and Payment Options – Compare payment options and ease of access to the online resident and manager portal
Software Integrations – Verify the company integrates with your rent roll software and accounting software.
How much do submeters cost to install?
On average, it usually costs only a few hundred a unit for labor and equipment. The exact amount varies depending on the complexity and property layout. Our team will be happy to provide a free quote. We can also provide you the equipment and you can have your local plumber install. Typically, in 12 months you will see a return on your investment. We have some properties that completely recovered their cost in 6 months and they didn’t even meet their yearly utility budgets. Residents conserve more when they are directly responsible for the costs.
A few other benefits:
• The ability to detect underground leaks
• Common area utilities can be billed to residents (not available in certain states)
• Submeters can increase the value of your apartment complex due to increased profits
• NES also offers vacant recovery services which results in increased utility savings
What is RUBS and how can it help communities that can’t be metered?
RUBS is an acronym for Ratio Utility Billing System. RUBS uses formulas to allocate utility costs for water/sewer, gas, and electricity when meters are not an option or if your investment dollars can be better utilized elsewhere. We have a variety of RUB options to choose from and our team will outline them in accordance with your goals.
Does Submetering have regulations?
Yes. Lots of regulations. The laws and regulations regarding submetering multi-family properties change frequently and vary greatly per state and county. If you plan on installing and servicing your own Submeters without NES (National Exemption Service), we highly recommend staying up to date with the latest regulations.
Can National Exemption Service handle my large property?
National Exemption Service (www.Submeter.com) is one of the largest Submetering companies in the USA. We currently provide Submetering and RUBS services in over 40 states with a focus on properties with more than 100 multifamily units. NES is uniquely structured to handle these large projects efficiently and professionally and the only company that offers extended warranties on submeters.
Our dedicated compliance team actively verifies state and county regulations, in-house customer phone and email support team provide friendly assistance and the President & Owner actively manages the entire team. Protect yourself from the liability and let NES handle your real estate.
National Exemption Service (NES) President & Owner is also a voluntary board member of the Utility Management & Conservation Association which makes him privy to best practices in the industry.
Do you own or manage a multifamily property with 100 or more units?
Get a FREE quote and learn how much you could save by Submetering.
We will contact you within 1 business day via your preferred method of communication.