A Utility Billing Service is provided by third party vendors that read tenant utility usage each month and generate invoices. Vendors also provide tenant billing and collection services. Utilities available for sub-metering are Water, Gas, Electricity, Heating and Cooling.
When utilities are billed according to actual usage it is called "Utility Sub-Metering". If utilities are estimated the billing is called RUB or "Ratio Utility Billing.
"Utility Sub-Metering" typically uses wireless meters installed at each apartment. And RUB estimates utility usage with formulas that involve SQFT, Number of Occupants, etc.
- Advantages of using Utility Billing Service
You may be able to lower your rents and be more competitive.
Tenants who conserve can actually pay less for their apartment.
Some companies have onsite monitors and you can instantly turn utilities on and off remotely.
- Why is MultiSite involved?
The property is not benefited when a tenant falls behind and their utilities are shut off. Experience in this industry shows that tenants are much more likely to pay the landlord when they pay rent than they are to pay a third party collection service.
- How does MultiSite help?
If you wish the UBS vendor to bill the property and then you individually bill each tenant, you will want to automate the recording of each monthly tenant utility charge.
MultiSite provides an easy interface with only one push of a button to individually record a utility charge to each tenant ledger.
Please call MultiSite for setup information and begin automating your UBS today. This is a FREE service to MultiSite Customers.
