Property Managers and Condo Board Members – Get Control of the Largest Line Item on Your Condominium Budget
Whether you’re a Property Manager, Building Owner, or Condo Board Member, reduced expenses and increased savings should be high on your priority list. So why aren’t we taking advantage of budgetary control? We are talking about utility expenses – one of the biggest of all – electricity.
In a condo, electricity is typically the largest line item on the budget. Residents’ unit consumption, on the low side, typically accounts for 50% of the building’s electricity used. You as a Property Manager, Condo Board Member, or Building Owner are responsible for managing the building’s costs. Yet, in a non-metered property, you have no control over 50% of the building’s largest cost!
When you submeter the suites, the cost is automatically controlled because it is removed from the budget as the tenants are now responsible for paying for what they use.
A user-pay system is not only better for the budget, but also for the environment. When residents are responsible for their utility bills, an awareness of consumption is encouraged and ultimately habits will change. Lower consumption equals lower bills and reduced impact on the environment – simple as that!
Suite metering, also known as submetering, provides condominiums and multi-residential properties control over otherwise uncontrollable in-unit utility consumption. And while there are upfront costs to initiating a submetering program, the savings translate quickly.
Better yet, we offer a service, free-of-charge, so that you can be confident in the benefits of submetering specific to your building before you commit – Electric Test Metering.
What is Electric Test Metering?
Test metering is a tool used to show the likely savings of suite metering specific to your building. We’ll measure the electric feed to the residential units by installing a portable test meter(s) on the suite portion of the building. The information collected from the test meter(s), combined with your hydro bill, will allow us to establish the portion of your electricity being consumers by the units.
The data configured will allow you to establish if submetering is viable for your building(s) specifically. Generally, if your test metering results indicate your suites are currently consuming ≥ 50% of the building’s total electricity, then suite metering is viable for your building.