Stop Utility Theft With Vacant Unit Cost Recovery
More often than not, utility providers continue to provide electricity, water and gas to properties even when units are vacant. However, when a new tenant moves in, they usually forget to transfer their unit’s utility bills to their name. From the moment they move in to the time when they are able to set up their account with the utliity company, the utility costs are shouldered by the property owner. As these expenses occur with every new tenant throughout the year, it greatly affects the property’s Net Operating Income.
Studies have shown that around 20 to 40 percent of new residents fail to arrange their utilities before moving in. Oftentimes, several weeks or even months pass before renters are able to switch ownership to their name. There are several ways to stop vacant unit utility theft and the most accurate and efficient way to do so is by partnering with a firm that provides vacant unit cost recovery services.
Another way to stop vacant unit utility theft is by manually keeping records and collecting data from all utility bills. This information is then put into a spreadsheet and compared when residents move in and out. However, this is very time consuming and prone to human error. With all the daily tasks of managing a property, it is much more practical to choose vacan unit cost recovery programs.
With United Utility Services’ Vacant Unit Cost Recovery services, not only will you be able to redeem false charges, but you’ll also be able to save on late fees. You can also charge your own customizable late utility registration fee to tenants that fail to switch on time. The monthly statements that are delivered to the residents will list the utility charges as well. If requested, optional grace periods and amounts can be set by you in order to avoid automatically charging a resident who registered just slightly late.
By choosing our services, we will be able to recover charges that have been mistakenly allocated toward your property’s bills. Our firm offers comprehensive services, from billing to collections and customer service, and vacant unit theft will be a thing of the past.