Submetering reduces energy consumption
Submetering helps you recover costs on a fair (and legal) basis by using individual meters for each tenant suite. Providers still track utilities through the main meter, but each unit’s submeter tracks usage for a specific unit.
Benefits of Submetering
Energy and cost savings
The primary benefit of submetering is reduced energy consumption for the building. Reduced consumption leads to significant savings and a minimized environmental impact.
Tenants understand and appreciate that they are paying for their personal usage. As a result, they typically consume less than without submetering. Research shows tenants use 15-25% less on average if they pay for it. In addition, other case studies identify over a 50% reduction in usage!
Consistent rental prices
When you include utilities in the rent, tenants don’t understand the financial or environmental consequences of over-consumption. In some cases, not knowing the cost of their usage might force rent price fluctuations. These fluctuations can create a challenging situation for tenants and landlords.
Submetering ensures everyone knows how much energy is used and what they’re paying for. Additionally, it allows you to recoup the money for utility bills in a timely manner.
Quality tenant retention and referrals
From commercial, residential and manufacturing tenants, the data is clear. When tenants know what they are paying for and are billed fairly, they feel happy about it and generally reduce usage. Those who already use minimal energy will start to see savings! These factors combined lead to renewed leases and property referrals to others.
Measuring production energy costs
For manufacturers, submeters can help measure and allocate energy costs for a specific production process. Access to this information can help manufacturers manage their cost centres, streamline processes, become more efficient, and reduce consumption overall.
Catching money-saving errors
You could also use a utility bill management system in conjunction with submetering. Utility bill management allows you to track what has and hasn’t been paid to utility companies. In addition, this information will help you catch any errors made in billing, saving you even more money.
Let’s break down submetering
- Submetering measures the energy consumption of individual units in your building.
- Your tenants only pay for the utilities they use.
- Submetering gives your tenants the incentive to conserve energy.
- Fair billing leads to tenant retention and property referrals.
- Lowered consumption reduces their costs, your overhead costs, and everyone’s environmental impact.
- Solution 105 can assist with submetering, utility bill management, and tenant billing inquiries.
Who uses submetering?
Submetering is ideal for multi-unit operations and the property management industry, including:
- Retail tenants
- Office tenants
- Multi-unit residential tenants
- Monitoring specific cost centres
What utilities can use submetering?
Solution 105 offers submetering solutions for all utilities. These include electricity, natural gas and water.
The bottom line? Submetering can increase energy cost savings across the board. Submetering is a win-win for your tenants, shareholders, and the planet.
Solution 105 is the utility submetering specialist
Finding the best submetering solution for your needs
The energy consultants at Solution 105 will advise you on the best fit meter for your needs and building requirements. As a completely independent firm, Solution 105 does not deal with any specific submeter type or company. As part of the process, we will help you choose a Measurement Canada Approved supplier, including Carma, Quadlogic, Triacta and Intellimeter submetering solutions. Finally, we will assist with installation and commissioning.