A faulty utility submeter can be a silent drain on an apartment community. Older meters are not as techno-savvy as their newer counterparts and are more prone to communicate inaccurate data. Properties depending on meters that are ten years old may not be recovering their utility costs to a proper degree. “If we are not able to see the meter moving, we are not able to bill 100% accurately,” says RealPage Utility Submetering Service Account Engineer Sam Millsap. “At that point, the utility bill has to be estimated. And if the estimate is lower than the actual cost, the property absorbs the difference.” Submetering water, electric, gas and other utilities has helped apartment communities gain accuracy and fairness in what they pay to the utility company versus what residents pay. But outdated or failing meters can often favor the resident and leave the property management company or owner paying more than their fair share. Periodic maintenance is critical to maintaining utility submeter health, says Millsap. But at some point, the equipment will reach the end of its useful life and cost the property thousands of dollars in utility charges based on inaccurate data. At that point, a complete replacement and upgrade makes sense. Greystar realizes immediate savings For Greystar Properties, installing new, efficient meters at two of its older multifamily properties about a year ago resulted in significantly improved recovery of water costs, according to a company case study. The first project was so successful that Greystar opted to retrofit another. Older meters that needed frequent repair were swapped for new ones featuring some of the latest mesh-network technology at a 402-unit property, netting a $37,000 increase in recovery while improving equipment health 76%. The upgrade and associated savings boosted asset value by $617,000. “Within a couple of months, the property experienced better numbers across the board,” Millsap s...

A faulty utility submeter can be a silent drain on an apartment community. Older meters are not as techno-savvy as their newer counterparts and are more prone to communicate inaccurate data. Properties depending on meters that are ten years old may not be recovering their utility costs to a proper degree. “If we are not able to see the meter moving, we are not able to bill 100% accurately,” says RealPage Utility Submetering Service Account Engineer Sam Millsap. “At that point, the utility bill has to be estimated. And if the estimate is lower than the actual cost, the property absorbs the difference.” Submetering water, electric, gas and other utilities has helped apartment communities gain accuracy and fairness in what they pay to the utility company versus what residents pay. But outdated or failing meters can often favor the resident and leave the property management company or owner paying more than their fair share. Periodic maintenance is critical to maintaining utility submeter health, says Millsap. But at some point, the equipment will reach the end of its useful life and cost the property thousands of dollars in utility charges based on inaccurate data. At that point, a complete replacement and upgrade makes sense. Greystar realizes immediate savings For Greystar Properties, installing new, efficient meters at two of its older multifamily properties about a year ago resulted in significantly improved recovery of water costs, according to a company case study. The first project was so successful that Greystar opted to retrofit another. Older meters that needed frequent repair were swapped for new ones featuring some of the latest mesh-network technology at a 402-unit property, netting a $37,000 increase in recovery while improving equipment health 76%. The upgrade and associated savings boosted asset value by $617,000. “Within a couple of months, the property experienced better numbers across the board,” Millsap s...