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The value of sub-metering in real estate

As the owner or manager of a residential or commercial property, you are likely keeping numerous balls in the air, all at the same time. From managing the upkeep of the property to juggling tenant needs to resolving unexpected problems, the role is challenging and demanding. Right now, it’s a tenant’s market and property owners and managers need to find ways of differentiating their offering in a crowded market. 

“The need for relevant and consistent tenant care has become incredibly important for the real estate market,” says Michael Franze, Managing Director at Citiq Prepaid. “The need for reliable consumption data and meter readings is also increasing as tenants want closer control over their spend and their environments.” 

This need for richer control over utilities is being driven, in part, by the move towards energy efficiency and more aware environmental approaches. For commercial property rentals, green credentials are important for governance and for the business ethos, for residential property it’s an attractive value-add in a market. 

“Sub-metering is also incredibly useful reducing the admin load experienced by property managers,” says Franze. “With Citiq Prepaid, property managers can relax when it comes to utility payment and management because our solution ensures that every part of the process is managed for them. The tenants control their usage and spend through the meters and Citiq Prepaid deposits the funds into the relevant management account on time.” 

Property managers can then pay the municipalities on time without having to chase tenants for money or engage in payment disputes. Another advantage of the sub-metering solution is the online portal. Property managers can use the portal to generate reports that offer insights into various meters and can potentially identify a problem before it becomes expensive. 

“With our solution, you’re giving your tenants exceptional experiences when it comes to utility payments and usage,” concludes Franze. “People don’t want to have to argue over estimated bills or shared costs with other tenants, they just want things to be easy. This is where we come in – we make life easy for you, the property manager, so you can make life easy for your clients.” 

Citiq Prepaid’s sub-metering solutions include both electricity and water and have been designed to tick two very important boxes – simple and easy. Simple to buy, easy to install. Simple to manage, easy to control. With these market-leading prepaid solutions, property managers can cross one thing off their To Do list with confidence.

This article originally appeared in Real Estate Investor Magazine

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