Utility management is a complex endeavor that involves multiple processes, relationships and technologies. It requires a unique set of skills, and utility managers often wear many hats to manage water services and lead communities through challenging times. In addition to addressing the most pressing water and energy issues, today’s utilities must be both environmentally sustainable and financially sound.
For landlords, a key challenge is deciding whether to include utility expenses in rent or pass them on to tenants. Ultimately, this is a decision that depends on your facility, your tenants and your goals as a landlord. Including utilities in the rent price may help to boost your rental rates but may also create confusion about what is included. Alternatively, passing utilities on to tenants can make it easier for renters to budget and plan for their energy and water usage.
As a property manager, it’s important to keep your tenants in the know regarding their utilities. For example, many utility providers will spike their rates during peak usage hours. This can be costly for tenants, so it’s important to educate your tenants about their utilities and rates to ensure they are making smart decisions.
It’s also important to have the right tools to support your utilities department. For example, using software for utility tracking can help you reduce energy costs and save time by automating many manual tasks. Utility management software also offers compliance reports that can help you stay compliant with regulations. This can help to avoid fines and penalties. utility management