Submetering Apartments in Fort Wayne
Submetering in Ft Wayne requires knowledge of the specific laws and regulations set out by the state of Indiana. We recommend partnering with a utility management company that has decades of experience with local properties. In Ft Wayne, the maximum billing fee when submetering apartments is $4.00, and a reasonable setup fee is allowed, but that fee is not defined.
Ft Wayne regulations specifically state that the real estate owners can not profit from utility billing, but can pass costs onto the user. The state also requires special language on tenant bills, flattened (average) rates, and all billing information must be disclosed. Ft Wayne does allow RUBS (Ratio Utility Billing Service) and water submetering.
What is Submetering?
Submetering in Ft Wayne involves the installation of equipment to measure and bill each unit’s water/sewer, gas, and electric use. Submetering has been used since it was invented in the early 1920’s.
What are the benefits of Submetering?
When a property takes advantage of water submetering, it raises consumer awareness, users work harder to conserve, therefore reducing overall consumption dramatically. We typically see 15-30% water savings and submetering is also instrumental in detecting leaks. The real estate owner is able to save money since the tenants pay for the water they used. Common area water usage can be accurately measured and billed accordingly. The return on the investment is usually seen within 12 months.
What type of real estate other than apartments can be Submetered?
All types of real estate can be submetered. We serve both new construction and existing properties, those with equipment in place and those requiring equipment. Properties types include apartment communities, mobile home parks, townhomes, and condominiums. Due to the size and skill of our team, we specialize in properties with 100+ multifamily units.
What is RUBS and how can it help real estate 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 submetering is 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.
How important are Submetering regulations in Ft Wayne?
Submetering regulations are very important. The laws and regulations regarding submetering multi-family properties change frequently. If you plan on Submetering your own real estate, we highly recommend staying up to date with the latest regulations.
National Exemption Service (www.Submeter.com) is one of the largest Submetering companies in the USA. We specialize in properties with 100+ multifamily units, we are uniquely suited to handle these large projects efficiently and professionally. NES has dedicated compliance staff to keep up with state regulations. This article is updated with the most recent regulations that Ft Wayne real estate owners need to know. 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.
Ft Wayne Submetering Guidelines:
Submetering is allowed in Ft Wayne
- Maximum billing fee is $4.00
- Reasonable setup fee is permitted, however, the exact amount is not defined
- Owners cannot profit from utility billing but can pass the costs onto the tenant
- The state requires special language to be presented on the bills
- Rates must be “flattened” or averaged
- All lease must disclose the billing information
6 Things To Look For In A Water Submetering Company
When choosing a Submetering company for your commercial or residential property, it’s important to consider the following:
History of the submetering company and ownership
Type of meters the submetering company offers
Cost of meters (Many companies markup over 50%)
Length of warranty offered on meters
24/7 Auto leak detection
Ease of payment portal and autopay for tenants
NES is American owned and operated by its founder since 1988. Submetering has changed dramatically since the 80’s, new meters are state of the art wireless devices that report usage back on a daily basis. NES provides a warranty to landlords that covers all mechanical issues related to the meter. Unlike competitors, NES sells or leases the meters at cost which is unheard of in the submetering business. NES also offers leak detection services for an additional fee.
Do you own or manage a multifamily property with 100 or more units?
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