We are consistently astounded by how much revenue the multifamily industry is leaving on the table each and every month in utility collections. Why is it the norm to turn a blind eye to billing back utilities in arrears, large common area deductions, and out of control water bills?
Let's break down an example.
Let's say you've got a 200 unit property that's 60 days in arrears for passing through their water bill, the current water bill is reporting 1,675,000 gallons used at 89% occupied. Let's also say that the property is currently billing back only 70% of the total water bill to the residents.
Just to give you an idea of what's being left on the table here:
$77,286 in water savings (WITHOUT toilet replacement)
$5,160 in plumbing savings
$59,499 in lost utility billing revenue
Roughly $141,945 is left on the table every year with these inefficiencies in place.
With an updated utility billing and water conservation program from Southwest Utility Solutions, this property can increase its' capitalized value by $1,774,311.
Inefficiencies exist. That's a part of life. But when inefficiencies begin to affect the performance of your multifamily community- we make it our problem and mission to solve.