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Rubber stamping electric bills is a secret no one wants to talk about; not you, not the company you work for, and certainly not the utility company who bills you!

Electric bills can seem mind boggling when your area of expertise is managing buildings versus kWh and demand fees. You need answers now and utility companies are usually as illuminating as a blown generator. Understanding the anatomy of a bill sheds visibility on why your expenses are in or out of line with your budget. […]

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This is the second in a series of short utility budget hack articles. Having completed your rate
increase research*, now you’re ready to scrub out any potential anomalies from the past year
that might skew your utility budget.

Utilities can easily overwhelm the most hardened budget writer. Here’s a straightforward, stepby-step
method that to help you deliver a thoughtful, well-written utility budget. […]

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Researching rate increases can be confusing and overwhelming even to hardened experts, especially if you need to do this for multiple sites. Here’s my strategy to make sure I get as close as possible to the right answer. […]

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I’ve written thousands of utility budgets for water/waste water, electric, and gas during my career in the utility management business. First, I wrote them on the multifamily side for a large REIT and then later on the vendor service side. I’ve narrowed it down to a concise, meaningful process that’s proven to be successful for my clients over the years and I’d like to share that method with you. […]

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When considering the idea of utility submetering an operational building, the thought of the steps required can often seem overwhelming and may cause you to continually low prioritize what should be a first consideration.

You may get lost in the questions: “How do I find the right solution? Where do I find a qualified subcontractor? How do I handle the intrusion into residents’ apartments? Leases? Will I lose market rent value? How can I afford to do it?” No wonder many owners and managers pass over the idea as too insurmountable to tackle. However, is leaving an average of 5-6% NOI on the table really an option?

According to the EIA, the average monthly cost for an apartment’s electricity usage is approximately $113 per month or $1,356 annually. For a 250-unit community, that means an annual expense of $339,000. What would happen to your bottom line if you could recoup up to 70% to 85% of this revenue?

Let’s address the common fear of market rents dropping if you introduce charging electricity. Ignoring the fact that the trend of charging electric is extremely common, in addition to landing market rents, how much would the rent increase compare to electric reimbursement revenue? […]

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