Utility management is a broad discipline that encompasses everything from energy-saving measures to maintaining utility bills. It requires attention to detail and the ability to balance multiple priorities. As utilities become more digitized, it’s crucial that you keep up with new technology systems and continue to improve your skills in the field to ensure you are ready to take on more complex challenges and relationships.
When it comes to managing utility expenses, many organizations find themselves struggling with keeping their costs under control. Often times, this involves working with an outside company to help manage the process and track costs for electricity, natural gas, fuel oil, water, sewer, phones, internet, waste removal and other essential services.
This is especially important for properties with a large number of tenants and/or utility expenses. The right company can help streamline this process and provide accurate information in a timely manner.
Whether you choose to use a RUBS system or submeters, you can reduce your utility recovery expenses by tracking the fluctuations in your utility rates and correlating a resident’s charge to their consumption. This will enable your property to pass through the full cost of the utility without charging residents a one-size-fits-all flat fee.
Streamlining this process is a crucial step to reducing your utility costs and improving your bottom line. A centralized information platform will allow you to track your costs by facility, division or state; produce helpful management reports; and compare costs or consumption year over year for planning purposes. utility management