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As a property owner, managing utility costs and ensuring accurate billing can be a complex and time-consuming task. Third-party billing services offer a range of benefits that can help you maximize your property’s return on investment (ROI), recover utility costs, and save both time and money. Here’s how these services can make a significant impact on your property management:
By implementing a third-party billing service, you can substantially enhance your property's ROI and not worry about the $20,000 utility bill. Additionally, the detailed usage data provided by submeters helps ensure fair billing practices, so residents can be charged for their exact usage. When tenants are charged based on their actual consumption, property owners can recoup up to 100% of the usage costs rather than absorbing those costs or increasing rent to cover utility expenses. This system not only ensures fairness but also promotes conservation among tenants, as they are directly responsible for their utility usage.
Managing utility billing in-house can be labor-intensive and prone to errors. Third-party billing services offer a comprehensive solution that handles everything from meter reading and bill generation to payment collection and compliance with local billing regulations. By outsourcing these tasks, property owners can save significant time and reduce administrative burdens. Moreover, these services are equipped with specialized software and expertise to ensure accurate and compliant billing, minimizing the risk of costly mistakes. The convenience and efficiency of third-party billing services ultimately translate to cost savings and streamlined operations for property managers and owners.
At Submeter Solutions, we customize billing based on your property needs. We offer three levels of services with optional add ons; Standard, Pro and Premium (read more about this here). Once your account is set up, you will have one utility billing specialist assigned to your account. Having one main point of contact eliminates confusion, as they will know all the necessary details about your account and property. We are here to help you out, which is why we offer our services for unit counts as low as 1 unit.
Third-party billing services offer a valuable tool for property owners to enhance their ROI, recover utility costs, and save time and money. By leveraging these services, property managers can achieve more efficient and accurate utility management, ultimately leading to a more profitable and sustainable property operation.
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Nationwide service. No unit minimum.
