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While temperatures will continue to drop in the coming months, there’s no question that heating costs will remain steadily on the rise. Is your multifamily or commercial property plagued by high heating bills during fall and winter months? Find out how your organization can save thousands on utility costs this season.

Submetering has become an increasingly popular practice among multifamily and commercial properties in recent years. New Jersey recently became 50th state to allow submetering in newly constructed buildings. Many cities have even begun to require submetering, with Georgia becoming the first state to mandate submetering by law in 2010. By utilizing submetering to place utility costs in resident’s hands, property owners are no longer responsible for paying high heating bills year after year. 

Residents with submetered apartments are more inclined to conserve energy and are often quicker to report any maintenance issues that arise. In fact, Sustainablefacility.com states that submetering has been found to lower gas consumption by as much as 35 percent.

If your property’s unit mechanical configurations make submetering impossible, consider implementing a RUBS (Radio Utility Billing System) formula. This system allocates usage to residents based on formulas derived from square footage and number of occupants, once again taking responsibility for rising heating costs out of the hands of property owners.

For more information on how submetering or RUBS services can help your organization to save money this heating season, contact WaterWatch toll-free at 1-800-256-9826.

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Energy benchmarking is swiftly becoming a required practice for multifamily and commercial properties across the nation. While benchmarking energy usage can help properties to conserve energy and lower costs in the long run, it’s only the first step in doing so. Find out how to utilize your energy benchmarking data to the fullest extent. 

According to Multi-Housing News, energy audits are a way for energy management companies to utilize the data uncovered during the benchmarking process and devise new strategies for property’s to reduce energy consumption. An energy audit can uncover a building’s hidden energy problems and determine the projects that will ultimately result in the greatest cost savings for a property.

Aside from lowering operating costs through energy efficient upgrades, energy audits can also be used as an advantage when marketing multifamily and commercial properties to potential residents. According to a Parks Associates survey for Multifamily Executive magazine, nearly 30% of renters are willing to pay more to live in environmentally friendly or “green” units. In fact, almost 80% of multifamily firms today view energy efficiency as an important asset to their company. Energy audits can lead to lower vacancy rates and even the potential to raise rents.

Interested in learning how energy management services can benefit your property? Consider contacting our partners at Utility Bill Manager, LLC to learn more. Visit UBM online or call toll-free at 877-824-5180.

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According to a survey conducted by Kingsley Associates, resident renewal intent has declined nationally over the past year. While location and rent rates were among the top reasons for the decline in renewal intent, community management also ranked as an important reason why residents would not renew their leases for another term. Is your property staff unknowingly driving residents away?

The National Apartment Association states that “forgotten residents” are some of the least likely to renew their leases. Forgotten residents are those who have been given great amounts of attention during the lease signing process, but feel virtually ignored while living in the unit. Whether it’s lease questions that go unanswered or ignored maintenance issues, these forgotten residents will likely remember how they were treated and consider renting elsewhere when it’s time to renew. 

Since excellent customer service leads to more satisfied residents, training a personable and helpful property staff is a key factor in ensuring that resident renewal intent does not decline. Offering residents convenient options such as online bill pay, extended property office hours, community events, and online live chat support can help to reinforce that residents are valued throughout the entire length of their lease.

The same level of customer service should be provided by the companies your property chooses to partner with. As a utility submetering company with an in-house customer service department, WaterWatch Corporation recognizes the importance of convenience and support for residents. Learn more about our views on customer service here.

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