Utility costs are skyrocketing, leaving property owners scrambling for solutions. Submetering has emerged as a popular solution for multifamily properties and commercial building owners as a way to regain control. But before you take the plunge, let’s address some common concerns.
What is submetering and how does it work?
Submetering involves installing individual meters for each unit or tenant space within a building or property. These meters track the specific water, electricity, and/or gas consumption of each occupant, allowing for accurate billing based on actual usage.
Why Submetering Makes Sense for Your Property.
Submetering creates a win-win situation, with key benefits including:
- Billing Fairness & Transparency: Tenants pay for what they use, encouraging responsible consumption and lowering overall costs.
- Cost Savings: Reduced overall utility bills for property owners and potentially lower bills for tenants who conserve.
- Conservation: When tenants see their usage reflected in their charges, it encourages them to be more mindful of water and energy usage, saving money and resources.
- Data-Driven Management: Submetering enables property managers to identify areas of high consumption and implement targeted conservation initiatives.
Is submetering expensive?
The initial cost of submetering can vary depending on the size and complexity of the property. However, the long-term cost savings and potential increase in revenue often outweigh the upfront investment.
What happens if my submeter malfunctions?
One of the key factors of choosing a submetering company is the understanding of the type of maintenance and repair services offered. Most reputable companies offer these services in some capacity, but, in cases of malfunction, more often than not, the property owner would be responsible for repairs. The resident’s billing would be adjusted based on historical usage data or an average of similar units.
How accurate are submeter readings?
Modern submeters are highly reliable and accurate. They are designed to be tamper-proof and also undergo regular testing to ensure they are meeting industry standards.
Will submetering increase my rent?
Submetering doesn’t have to mean rent increases. In fact, the potential for cost savings on utilities for both tenants and property owners can be factored into future rent calculations. This creates a win-win situation, where responsible tenants are rewarded for conservation and property owners benefit from reduced overall costs.
What about residents who use less than average?
Submetering empowers residents to be responsible with their utility usage. By paying only for what they use, residents who conserve resources are rewarded with lower bills. This creates a fair and transparent system that incentivizes everyone to be mindful of their consumption.
Is submetering right for my property?
Submetering can be beneficial for various property types, from apartment buildings to office spaces, and commercial buildings with multiple tenants. Our expert technicians can guide you through choosing the best system for your property’s specific needs.
Submetering offers a win-win for property owners and tenants. Contact WaterSystems to discuss your options and unlock the power of submetering!
