Within the industry of multifamily communities, it is impossible to not have bad data in some form or another. Whether the data is generated by the resident or the property or an outside source, the negative nature of the data is toxic to the success and fluidity of operations at the property!
One of the services that Southwest Utility Solutions provides is data auditing. We provide data auditing to all of our properties because we also understand that bad data exists and is a real problem. We understand the risk bad data poses and we wanted to be the first to tackle this problem in an innovative way for properties and their residents.
So what data are we tackling?
We target two groups of data.
Data collected and generated on site at the property
Data generated and distributed at the Water Utility Company providing information specifically at the property
Here’s we why target these two specific groups:
First of all, correct data collected and generated on site at the property is crucial to the fluidity of day to day operations. But mistakes happen- we totally understand. For example, sometimes random credits appear on resident’s bills. Not only is this an issue for management but now you have a resident who previously owed you $700 now under the impression that you owe THEM $700. Big mistake. Occasionally some of our properties will have data that was entered into a unit’s profile that was once occupied come through on a bill after that particular resident had already vacated the unit. Now the property has charges that need to be collected being charged to a unit that no one is living in. Talk about a headache! Nine times out of ten most bad data for our properties comes from the initial inputting of numbers into whatever software the property is currently using. $100 and $1000 are definitely not the same thing, but that extra 0 is easy to miss! If current data for a particular unit is extremely different than its historical data (taking into changes made in base charges and fees on the property) then you also run the risk of there being bad data hidden somewhere out of site.
Bad data is also generated on the Water Utility Company’s level. Depending on the city and the property’s previous billing provider, old data is BAD data! Imagine this: you have a brand new resident who toured the property and fell in love with what it had to offer and signed a 12 month lease! Fantastic! There’s just one issue. Did you know that the majority of billing companies are an entire month behind with water utility charges? So this new resident of yours is going to love your property even MORE when they realize they won’t be paying their water bill for the full term of their lease! That’s a real issue!
So why do any of these issues matter? Because bad data on any level costs the property money and time. At the end of the day, a loss of money and time means a dysfunctional property and unhappy residents. These are definitely two things you do NOT want to happen on your property!
You need a solution to bad data and that’s why Southwest Utility Solutions built their auditing program. Not only are audits generated for property data but also the data generated by the water utility company is checked and compared to historical trends in data. By taking these two groups of data, Southwest Utility Solutions is able to compare the information to historical trends for the city and the property’s residents to make sure that outliers do not exist. They look at each unit, one by one, and make sure that no unsightly credits will appear on their bills and that they are receiving the MOST current water bill from the utility provider. We triple check the property’s inputted data too to make sure that the $1000’s are $1000’s and the $100’s are $100’s. Nothing bad gets by us!
There’s one more perk of our audit services too. Because of the lengths we go to make sure that the data from water utility companies is as accurate as possible- we are able to get the most current meter read for the city. What does this mean for you? That happy resident who just signed a 12 month lease with your property is actually going to pay for 12 months of water instead of the normal 11! Talk about generated revenue for the property!
Southwest Utility Solutions is in the business of providing solutions for multifamily communities and one of the ways it does this is by offering this innovative approach to bad data auditing. You’ve got it, they’ve got- but we don’t!