Apartment Utility Billing: A Strategy to Combat Rising Property Utility Costs
As property costs continue to rise, real estate owners and managers are constantly seeking innovative ways to manage and reduce expenses. One effective strategy that has gained traction is apartment utility billing, particularly through water submetering and Ratio Utility Billing Systems (RUBS).
The Rising Need for Efficient Utility Management
Real Estate investors understand utility expenses consistently increase. Your choices are either: raise rent or bill residents for their consumption. NES offers both RUBS and Submetering services and will handle all of the billing and collecting for your community. This allows you to keep your rent competitive since utility costs are being billed to the resident.
Water Submetering: Accurate Utility Billing
Water submetering is a system where each apartment unit is equipped with its own meter that measures water usage. This allows NES to bill residents based on their actual consumption, promoting water conservation and fairness.
By implementing water submetering, residents become more mindful of their water usage, knowing that their bill reflects their consumption. This not only helps the environment by saving water but also reduces overall property costs.
RUBS: An Alternative to Submetering
While water submetering is the most effective solution, it may not always be feasible due to the high installation costs or the structural limitations of some properties. In such cases, RUBS is the best alternative when regulations permit.
RUBS is a method of allocating utility costs among residents based on factors such as the number of occupants, square footage, or a combination of both. Although it doesn’t measure actual usage like submetering, RUBS still encourages conservation and helps property managers recover utility costs.
Submetering or RUBS is the Solution
In the face of increasing property costs, apartment utility billing through water submetering and RUBS offers a practical solution. By implementing these strategies, property managers can promote conservation, ensure fairness, and keep utility costs under control.
NES offers both water submetering and RUBS services, along with other utility management programs.
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