Homeowners Assocations (HOAs) can experience many benefits from utility submetering projects. While HOAs are not in the business of making money, they are still responsible for maintaining their community. When HOAs decide to submeter, the money saved can go back into the community in the form of parking lot repairs, painting, external lighting, and other necessary property upgrades.
In some cases, HOA dues are used, or even increased, to pay for the water expenses. This means homeowners could be left unfairly paying for other people’s usage. Even though a unit occupied by one person tends to use less water than a family, both units could be paying the same amount in water costs. Submetering ensures that homeowners are only accountable for the portion of water they actually use.
There are two customary reasons why a property has not been individually metered:
1. Many city water providers do not install master meters in every unit; rather they only place meters and monitor per building.
2. The homes are usually built as rental properties and then later converted.
Commonly, homeowners will raise concerns about already paying association dues and many believe water should be included. The truth is that most HOA communities are not setup for the association to cover the water bill.
For those HOA communities still absorbing the cost of water, below are a few reasons why you might want to consider a submetering and billing program.
- Communities no longer need to consider increasing homeowner dues to compensate for water; in fact many HOAs are able to reduce the fees over time.
- To create a more adequate budget that can be used for more necessary projects within the community (landscaping, buildings, pools, power washing and etc.)
- To negate negative effects on homeowners, such as a property value decline and foreclosures. When a property is kept in good repair it is more likely to sustain or even increase in value.
- Submetering is a fair and dependable approach to paying for water costs within an HOA community.
For a complimentary analysis and community survey, please contact WaterWatch Corporation by calling toll-free at 1-800-256-9826. We can help you determine if implementing a submetering system makes sense for your community.