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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.

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New York City has chosen to further its green initiatives by creating an Urban Technology Innovation Center to be funded by the New York City Economic Development Corporation and various NYC universities. The goal of the center is to retrofit older buildings in the city with green technologies that will improve their energy efficiency.

This center is unique in that it gives industry innovators a chance to test their green technologies on buildings and collect performance data that will help them to improve. In turn, the participating building owners will receive these green technologies at extremely low costs. The database created through these green technology trials will eventually be made available to property owners who are looking to implement environmentally friendly technologies in their buildings.

Aside from green technology testing and database development, NYC officials hope that the Innovation Center will increase communication about green technologies as a whole. The New York City Economic Development Corporation explains that an increase in communication will likely attract more green technology entrepreneurs to the city. Additionally, increased awareness may prompt more organizations to aid in financing the Urban Technology Innovation Center in the future.

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