Do you know how to maximize cost recovery from water, sewer, gas and electric expenses?
Your ability to allocate these expenses to your residents fairly, accurately and timely ensures improved NOI and cash flow -- helping you keep rental rates competitive.
AUM can help. Our Resident Services solutions will help you recover utility costs and encourage your residents to use utilities more responsibly. You’ll also save hundreds of hours of billing and collections work. We’ll customize a program that integrates seamlessly with your operation to provide you:
- Utility billing using a choice of billing methods
- Monthly resident statements via eStatements or mail
- Multiple options for resident payment collection
- Vacant unit cost recovery
- Automated move-out process
- Convergent billing to include rent, trash and other charges
- Interactive online portal for residents and managers
- Submeter installation and maintenance
- Property management software integration
- Full-service Resident Customer Service Center
Resident Utility Billing Methods and Options
AUM's comprehensive billing platform provides equitable, accurate and timely billing to help you recover your properties’ utility costs while encouraging conservation by residents. Studies show that by sharing property water costs with your residents, they’ll use anywhere from 10 – 20% less water. You can choose the billing method that works best for you.
- Ratio Utility Billing Systems (RUBs) - proportionately allocates utility charges using a variety of calculation options.
- Sub-meters – encourages responsible water and sewer usage by having residents pay for what they use.
- Flat or Fixed Fees – while commonly used for trash and pest control, AUM can also bill utilities as fixed charges per month per unit.
Resident Payment Collection Options
With Resident Billing, you can select the collection option that integrates best with your operation.
- AUM Collects – we’ll mail or email the statement to the resident and instruct them to mail their payment to our lockbox. Residents can also pay their bills through our Auto-Pay service or online with a credit card.
- Collect on Site – we'll mail or email the statement to the resident and instruct them to make the payment to your management office.
Vacant Unit Cost Recovery
Many residents are responsible for paying their utility providers directly for electric and gas. Unfortunately, 60-70% of them fail to set up these utilities in their name by their move-in date. You are the one left covering the cost of these utilities until they sign up for service. An owner with 10,000 units could pay upwards of $120,000 a year to cover these charges!
We can help you recover these costs, and we can save you from having unpleasant conversations with residents in an attempt to secure these charges. Our billing platform will track and compare service periods on property invoices against resident move-in dates and bill the applicable charges directly back to the residents.
Automated Move-Out Process
During heavy move seasons, Property Managers are consumed with conducting inspections, organizing closing packages, returning deposits and calculating final utility charges. Their time could be better spent signing up new leases. Our automated move-out process will save your team time and help you recover more revenue by:
- Providing pro-rated utility charges
- Loading final charges to your ledgers
- Creating final statements for your residents
- Offering you peace of mind knowing you’ll be collecting full utility fees
Convergent Billing allows you to send one AUM statement to residents with all of their monthly charges due including rent, utilities, carry-over balances, trash, recycling, cable, parking fees, pest control, etc. The simplicity of offering one bill means residents will have fewer questions and make more timely, full-balance payments.
Interactive Online Resident and Client Portals
With our Resident Portal, residents have access anytime, anywhere, and on almost any internet device to manage their accounts, make online payments, view payment history and current balances, subscribe to eStatement paperless bills and sign up for Auto-Pay service. Our Client Portal provides Advanced Analytics dashboards, interactive online tools and management reports to help you manage your utilities more effectively. Properties can manage move-ins/move-outs, transfers, renewals, late notices, onsite payments and occupant counts – all using our online applications. We also provide over 50 management reports to choose from.
Sub-meter Installation and Maintenance Services
AUM offers sub-meter services for water, gas and electric utilities. We perform on-site visits for all sub-metered properties, and we monitor equipment and meter output to identify opportunities.
- Diagnostic Reporting – every client receives quarterly diagnostic reports on meter health with recommendations for improvement.
- New Construction & Retrofits - we conduct on-site visits, develop proposals and partner with your developer or general contractor for meter installation or pipe cutting. We’ll manage installation through all phases of construction.
- Meter Maintenance Programs – we run quarterly diagnostic reports to determine if repairs are needed. Trained AUM Technicians can do the repairs for you or we can train your property maintenance staff.