Submetering Saves Money and The Environment
There have been numerous studies by the National Multi-Housing Council and the National Apartment Association about Submetering.
These studies have clearly documented the connection between utility conservation and separate billing for utility usage.
For example, these studies demonstrate that individually metered apartments often experience an 18 to 39 percent reduction in water consumption when compared with master-metered properties that include water expenses in the rent. Rental properties that employed a RUBS allocation formula enjoyed a water savings that ranged from 6 to 27 percent.
Both the resident and the property owner benefit from utility submetering. Residents benefit because submetering provides them with more control over their total monthly housing costs. By reducing their utility usage, they clearly save money.
Plus, residents also benefit because they are now directly responsible for their own usage and no longer have to pay for the misuse of utilities by other residents. And when utility expenses are reduced, property owners enjoy higher operating margins and property values. Submetering also protects property owners from unbudgeted utility expenses.
Perhaps the biggest winner is the environment that we all share. Since submetering and utility allocation both reduce water and utility usage, benefits abound. There is more fresh water to go around, and less carbon in the atmosphere. Just imagine the effect if every rental property were to institute submetering!
To learn more about Submetering, Click Here.
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