When moving into a new apartment, residents will often wait to switch utilities into their name in an effort to avoid paying their bills. In fact, approximately 20 to 40 percent of new tenants don’t call ahead to arrange their utilities, costing property owners thousands of dollars over time. Thankfully, there are ways to ensure that your organization recovers any money lost due to vacant unit theft.
The practice of vacant unit theft is all too common. Some residents allow weeks, or even months, to go by before switching utilities into their names. In Michigan alone, nearly 70,000 homes and apartments are currently stealing electricity and natural gas in some manner.
Buildings.com explains that there are money saving strategies for property owners to take that can ensure they are reimbursed for any utility usage lost to vacant unit theft. One of the most efficient strategies discussed is partnering with an experienced energy management company that will guarantee you are getting the most money back that is possible.
Has your organization lost money due to vacant unit theft? WaterWatch Corporation recommends contacting our partners at Utility Bill Manager to utilize their vacant unit cost recovery service.