Submetering & Utility Billing Services For Condominiums & HOA's
Preservation and enhancement of property valuations - that's the primary goal of condominium boards and home owner associations. What role does submetering play in achieving this goal?
Consider that one study found a 39 percent drop in utility usage after submeter installation and utility costs became an individual, not a community responsibility. Investing these cost savings in property improvements help maintain and increase the resale value of individual homes.
Separate metering also makes homes more saleable because potential buyers prefer paying for their own measured usage rather than subsidizing the consumption of others. To illustrate, a family of four will use more water than a retired couple. If utility costs are equally factored into each resident's monthly HOA fees, the retired couple pays a portion of the family of four's water costs. Homeowners who water flower beds, gardens and wash cars are being subsidized by those who do not. Submetering eliminates these inequities in condominium living and makes condominium homes more saleable.
Many condominium communities have extensive lineal feet of underground water lines. The more underground piping, the more likely undetected leaks will develop. These silent drains on community operating income can be eliminated by periodically comparing aggregate submeter usage with master meter usage. Submetering is a proven way to preserve and enhance home owner property valuations.