Submetering in Charleston
Submetering in Charleston is allowed but requires knowledge of the state utility management rules. Submetering for gas and electricity is not regulated, however, water is regulated. Charleston also specifies that the resident’s lease must allow for utility billing.
What is Submetering?
Submetering 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 submetering, it raises consumer awareness, users work harder to conserve, therefore reducing overall consumption dramatically. We typically see around 30% water savings. 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 is 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, condominiums and shopping centers. 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?
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. NES has dedicated compliance staff to keep up with state regulations. 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. National Exemption Service currently services real estate in Charleston and nearby cities.
6 Things To Look For In A Water Submetering Company
When choosing a Submetering company for your commercial or residential properties, 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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