For many property managers, the end of the day comes all too soon. They’ve spent their time fielding tenant complaints and trying to rent available units. They’ve spend their time running background checks and depositing rent and application fees. They’ve spent their time doing everything but the one thing they wanted to get done, and that was the utility billing. This is why so many property managers rely on utility billing services. It frees up their time to do stuff that is more important.
Leave it to the Experts
If you are that property manager, it’s time to outsource this portion of your responsibility to a utility billing service. When you enlist the help of these experts, you’d be surprised at how quickly you will gain control over your buildings’ utility costs and your overall bottom line. If you manage large properties, you don’t have time to go over the billing for each unit, but professional utility billing services do, and this is important for the following reasons.
Utility Companies Make a Lot of Errors
It would be nice to trust that each bill that finds its way to your desk is error-free, but over 35 percent of them are not. That’s right. Over 35 percent. One expert utility billing company estimates that of all the utility bills it reviews, and it reviews a lot, 38 percent of them are erroneous. This means you might be paying more for utilities than you have to, especially on vacant units, and this affects your bottom line and the ability for your property to return a solid profit.
How a Service for Utility Billing Can Help
When you take this into account, you realize immediately why these services prove to be such a valuable tool to any property manager. Their personnel have the time to go over each bill with a fine-toothed comb to ensure that you are not being overcharged in any of your units. If fact, this is part of their service. They will review all utility billing with auditors’ eyes and contact the billing companies directly for you in the event there are discrepancies.
They will also provide you with the regulatory and legal support you need. They will make certain that all utility billing processes remain in regulatory compliance at all times. The utility industry changes at the speed of light. Governments regulate and then de-regulate. Companies raise rates and taxes at the drop of a hat. You cannot stay on top of all of this; you have property to manage. The billing service will do this for you.
Finally, if you desire, they can collect the utility payments from each tenant for you and they will pay your property utility bills on time every month. You will no longer be saddled with late fees and other penalties because you didn’t have time to get the invoicing paid. They will receive your invoicing directly, review it thoroughly, bill your tenants and pay the bills. You’ll never have to worry about this portion of your job again.
Look into utility billing services for your property today. It will free you up to secure quality tenants and maintain their units so they stay for a long time.