AUM Resident Services
Water and sewer, gas, electric and trash utility expenses represent some of the largest cost variables for rental properties. Multifamily Property Owners and Managers rely on AUM Resident Services to recover those costs and improve Net Operating Income (NOI)
With AUM as your resident services partner:
- Rental rates are more easily kept in line with the local market.
- Residents use utilities more responsibly when they are paying for them.
- Utility rate increases put less pressure on rental rates and net operating income.
- Your overall property net operating income – and resale value – improves!
Resident Services Overview
Our Resident Services solutions save you hundreds of work hours each year by maximizing cost recovery, streamlining collections and limiting resident bill management responsibility. Our complete range of resident billing capabilities allow us to understand your unique facilities, business practices and resident profiles, then implement a custom program that will:
- Process utility bills through a selected billing method
- Calculate and mail or email resident bills monthly
- Offer various bill payment and collection methods
- Maintain resident records accessible in real time
- Provide access to residents and managers through our client portal
Resident Billing Options and Bill Methods
Ratio Utility Billing Systems (RUBS) – AUM can design an allocation program for virtually any property under any condition and provide equitable, accurate and timely billing to help you recover your property’s utility costs while encouraging responsible usage by residents.
Utilizing RUBS enables you to:
- Recover most of your utility costs by proportionately allocating those costs among residents.
- Receive accurate cost allocation for all utilities.
- Bill trash, recycling, cable, parking fees and pest control, among others.
Submetered Systems – These encourage responsible water & sewer usage by having residents pay for their used portion of the property’s total water and sewage costs.
Flat or Fixed Fees – While commonly used for trash and pest control, we can also bill utilities (water, sewer, gas, electric and HVAC) as fixed charges.
Bill Payment Collection Options
When using AUM Resident Billing, you have options for collection of billed energy and utility expenses:
AUM Collects – If the you elect to have AUM collect resident payments, we will include a return envelope with each bill and instruct residents to return their payment to our lockbox for processing. AUM then reimburses you the collected utility payments.
Collect on Site – With on-site collections, AUM will process a bill, mail it to the resident and instruct the resident to make payment to the office.
Vacant Cost Recovery
Many apartment community residents pay their utility providers directly for electric and/or gas. In instances where service was not established in their name on or before their move-in date, the unit owner absorbs those costs until the account is active.
Our Vacant Cost Recovery Billing service helps owners and property managers avoid utility theft by tracking and comparing service periods on the property invoices against resident move-in dates and billing the applicable charges back to the residents who should have established service.
Roughly 60-70% of new residents fail to establish utilities into their name by move in, costing owners an average of $40 per offense each month. In that situation an owner of 10,000 units (with an 50% annual turnover) could owe upward of $120,000 a year because of these offenders.
Client Support Tools
Online Client Portal – This globally accessible portal provides direct access to data and reporting tools where standard and customized reports can be generated. The system can automatically run and email reports as scheduled.
Training – The training of owners and managers on the AUM client portal, our services, and processes is a crucial aspect of our services.
If you want to learn more about how you can improve your NOI using AUM Resident Services, contact us here.