Submetering For Landlords
If you are a landlord struggling with high utility bills – water, gas or electric – submetering is the solution. Submetering is the measurement and billing of a particular unit’s water, gas, or electric consumption with the use of a meter. Submeters are installed between the main utility meters and individual units, which allows for the exact measurement and billing of that utility to that renter. NES is a leading submetering company in the United States which manages, reads, and bills thousands of units every month. Submetering is highly regulated by municipalities, cities, and states.
Managing submetering services professionally and accurately is critical for the best resident experience. These 12 factors are important to consider when choosing a submetering partner.
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 in their capabilities
Customer Reviews – Check the company’s 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.
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What is Submetering?
Utility 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 1920s.
What are the benefits?
If you are trying to recover operating expenses for your apartment complex, Submetering is the answer.
When a property installs water submeters, tenants work harder to conserve, therefore reducing overall consumption dramatically. We typically see 15-30% water savings. Submetering is also instrumental in detecting leaks. Common area water usage can be accurately measured and billed accordingly.
Submetering can also increase the value of your apartment complex or mobile home park.
Bottom line: The real estate owner is able to save money since the tenants pay for the water they used. The return on the investment is usually seen within 12 months.
What types of real estate 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. 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 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.
Our dedicated compliance team actively keeps up with 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 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.Warren
Do you own or manage a multifamily property with 100 or more units?
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