ResidentUtility is a low or no-cost utility management solution built to increase your utility expense recovery. Utility costs are the third highest expense for multifamily communities, but raising rental rates to offset increasing costs can make you less competitive and upset residents. ResidentUtility’s Convergent Billing avoids those pitfalls and helps you maximize your recapture rate, increase your NOI, decrease delinquencies, and make informed budget decisions.
The average 300-unit multifamily community can lose up to $20,000 annually when new residents fail to put utilities in their name. Vacant Cost Recovery can help decrease these costs by more than 50%.
Utilities are the third highest operating expense at a property and if not properly analyzed, can negatively impact NOI for a company. Entrata's Utility Management solutions help ensure your property is not being over- or under-billed.
Send property invoices directly to Entrata's utility experts, who enter utility data into the AP system.
Let Entrata’s utility experts audit utility data for anomalies in bill details, consumption, and financials and work directly with utility providers if an error is found.
Integrate data directly into Entrata AP and store for future access for more robust reporting and actionable utility data.
Properties will encounter some type of billing or metering error on utility bills. Property management companies could be paying as much as 25% more than they should be paying at a particular property.