While water supply may seem endless to some multifamily residents, it’s important to remember that areas in the American Southwest and Central Great Plains have actually been in a state of drought for 11 of the previous 14 years. Multifamily property owners have found that utility management systems not only motivate residents to conserve water, but can also decrease property costs.

Cost recovery associated with water conservation

The cost of water is on the rise, with average annual increases of approximately 5% (water price per gallon/cubic foot) over the past decade. It’s easy for multifamily residents to ignore water supply and increased costs when they are not held accountable for their portion of consumption and expense.

Owners and management companies have reported a significant increase in cost savings after implementing water submetering and resident billing programs in apartment communities, HOA’s, mobile home parks, mixed-use and retail facilities. In fact, by installing a utility management system that measures each resident’s water usage by unit, usage and cost can be reduced by an average of 20%.

Water conservation regulations and compliance

There are many variables to consider when researching the best utility management system and choosing the most applicable billing method for your property. Funding, return on investment, sustainability and durability should all play a critical role when making this decision.

Water conservation regulations may be enforced on the city, state and county level and should also be considered when implementing a multifamily utility management system. For example, water submetering is required for multifamily properties in certain areas of Texas, Georgia, North Carolina and California and more states are predicted to follow suit in coming years.

Water conservation regulations are generally dependent on the age of a property and whether the property is new construction, retrofit, or mixed-use residential.

Interested in finding out how your multifamily property can conserve water and cut costs?

At WaterWatch Corporation, our team of account managers, field technicians and legal personal ensure that your utility management system is designed to fit your property’s specific needs. We invite you to reach out to one of our sales representatives to receive a complimentary utility and energy management analysis.

Feel free to call us toll-free at 1-800-256-9826 or email us at info@waterwatchcorp.com for more information.

Tasha Yielding is the National Sales Director for WaterWatch Corporation. She works daily to educate new and existing partners about services offered within the multifamily and CRE industry.

Comments are closed.