roperty managers continue to realize the financial and environmental value of utilizing submetering to bill residents for utility costs. Over the last several years, due to regulatory requirements in some cities and states and the recognition of this value, multifamily investors and owners across the industry are purchasing properties already equipped with submeters or retrofitting older complexes.
As more property owners move toward the submetered approach, it remains and grows in importance as builders include submeters in new construction – increasing the value of the property and enabling owners to purchase and immediately begin recouping utility costs from residents. As an indication of the nationwide shift within the multifamily industry, the percentage of newly constructed properties with submetering systems that are serviced by NWP have doubled over the past 5 years versus those without submetering systems.
Read more...Submetering: Adding Value in New Construction | American Building Today
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