If you have submeters in your building, then you probably have a meter reading process that goes something like this: First, someone walks around with a clipboard, writing down submeter readings by hand. Next, that clipboard is handed to another member of the team, who inputs those readings into an inherited spreadsheet along with the monthly utility bill information. Then, that spreadsheet spits out the amounts to charge each tenant. Finally, invoices are manually generated and sent to the tenants for payment.
Does this sound familiar?
We’ve seen hundreds of these spreadsheets, and handled every kind of billing scenario you can imagine. The one thing they all have in common? Mistakes. This is due to the manual nature of these processes and the complex billing scenarios many buildings are handling. We regularly see scenarios where property management teams are under- or over-billing their tenants each month — sometimes by thousands of dollars.
Since this process often lacks an audit trail, property teams can be put in a difficult and costly situation if a tenant challenges the readings. We want to help you make sure you’re billing your tenants correctly for their supplemental meters, so we’ve put together a list of the most common mistakes we see.
These mistakes are incredibly common for property teams and could be putting your team at risk if mistakes are discovered after years of incorrect billing.
Our team provides a much-needed second set of eyes for each of our Submeter Billing Service clients. Our software automates the billing, and then our own finance team checks to ensure the meters are being billed correctly.