Long Term and Short Term Submetering Benefits
Many clients initially think of the effort needed to implement submetering in their properties, but when they realize the vast number of benefits they can get from the system, they immediately realize its worth. Aside from cutting down on utilities bills and maintenance, an increase in building efficiency and better tenant relations is guaranteed as well. Take a look at the short and long term benefits of submetering below:
Long Term Benefits: Submeters are a constant source of data. As this data is analyzed by the system, certain patterns can be identified. You will be able to notice which areas use more light than other areas, while other parts use more heat. With these results, you will then be able to retrofit the areas that need it. These data patterns are valuable mines of information that can greatly increase your properties’ efficency.
Short Term Benefits: Management that charges a set utility fee or a fee that scales according to unit size or another variable can find that tenants are far less likely to conserve energy. Once submeters are installed, utilities consumption gradually decereases as they learn exactly how much water, electricty or heat they consume. Their energy usage adjusts as months pass.
When tenants are directly responsible for their individual energy bills, their usage and behavior automatically changes. You’ll find that renters will use far less water, install efficient lighting or turn down theromstats.
Long Term Benefits: After several months of collecting data from unit submeters, the information gathered can help property managers identify building damage or leaks, enabling them to quickly repair the issue and greatly increase efficiency.
Short Term Benefits: While property owners might be turned off by the initial cost of installing submeters, the return on invest can be seen in as little as two to six months with usage reduction of around 25%. This high return on investment is a rare occurrence but should be taken advantage of by property owners and management as soon as possible.