New Release!
Mastering Multifamily Utilities: A Guide to Better Cost Recovery
Multifamily investment can be a stable and profitable long-term venture when managed intelligently. One of the most valuable lessons in property management is to understand that increasing revenue sources (i.e. rent) is not always the best solution to boost profitability. In this ebook, we provide actionable solutions to plug the five significant expense leaks in your utility management operations.
Start readingHow utility management strengthens NOI and reduces costs
Efficient utility management is one of the most effective ways to control expenses and protect net operating income in multifamily operations. When managed well, utility financial flows can reduce waste, recover costs, and improve financial stability across your communities.
What are the three key areas of multifamily utility management?
- Expense management ensures utility invoices are accurate and charges are paid on time.
- Resident billing involves allocating utility usage fairly and maintaining timely collections.
- Data and analytics uncovers anomalies and translates consumption trends into actionable insights.
Without the right strategies in place, hidden costs from vacant unit utility theft, billing errors, or inefficiencies can drain profits. In this guide, you’ll learn utility management strategies to streamline cost recovery, protect NOI, and maximize profitability. Start reading now!
Five utility expense leaks that can erode multifamily profits
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#1: Errors on utility invoices
Invoice errors like misread meters, misapplied rates, and duplicate charges can result in higher-than-appropriate property fees.
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#2: Utility theft from vacant units
Utility theft can cause the property to incur usage costs that should have been billed to a resident.
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#3: Inefficient resident billing
Mismanaged billing leads to inaccurate allocation and charges, delayed cash flow, and missed invoice payment deadlines.
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#4: Submeter errors and abnormal usage
Errors or anomalies resulting from faulty or misconfigured meters inflate charges or improperly allocate usage.
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#5: Limited insight into utility trends
Poor visibility into long-term usage trends ensures missed recoupment opportunities and drives uninformed financial decisions.
Effective expense management builds NOI and drives long-term profits
Putting the right utility strategies in place to maximize recoupment and strengthen cost recovery keeps your portfolio efficient, cost-effective, and profitable. By cutting waste and optimizing expenses, you can protect your properties and maintain financial stability. Read the guide to learn how utility solutions can boost cash flow, safeguard NOI, and set your communities up for long-term success.
Drive financial efficiency across your portfolio with Zego Utility
With the Zego Utility suite of solutions, property managers enjoy max recoupment, accurate accounting, compliance support, and much more – simplifying workflows for onsite teams and minimizing disputes from residents. Book a demo to see how to enhance your invoice management, resident billing, usage tracking, and cost recovery operations.