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Separating water from rent and assigning each bill to its rightful user, create mindfulness in your residents.
Residential utility costs, billed by a third party utility billing service, are not considered "rent."
Submetering improves your net operating income and decreases your operating costs.
Submetering converts a variable financial liability from the "cost of business" to the "income and asset" side of the ledger.
Strong utility billing services make your income more predictable.
Billing residents individually can decrease their usage by as much as 39%!
Lowering a property’s expenses increases the property’s NOI, raising property value.
Example
Properties Utility Cost (Yearly) $60,000
Cap Rate 8%
Property Value increased by $750,000
Note: All assumptions are estimates. Actual results will vary from these estimates. No warranty of these results is inferred or should be drawn. This is an example for informational purposes only. Customer should seek their own legal and accounting advice.
“In 2012, we came across Water Systems Inc. while looking for a company to help us with water metering 176 units of rental property. After deciding and committing to work with WSI, we discovered we would be required to jump through a number of significant hoops from our city and state in order to become a private water system. Even though WSI had shipped thousands of dollars of equipment to us they were very patient during the next 12+ months while we worked with he various government agencies to get up and running. Since 2014 and the commencement of metering, we have been nothing but extremely pleased that WSI has been our water metering partner. Their handling of the electronic reading and billing for our customers usage has been flawless. Besides always being there with help on upkeep on the system. We have never regretted the decision to work with WSI and whole-heartedly recommend them to anyone wanting to install water metering for their rental properties.” – Terry H. Robinson (Cottonwood Groves, INC.)
