What is Tenant Billing?
Billing tenants for utilities is a complicated matter, but it doesn’t have to be. Tenant billing provides owners and operators automatic billing software managed through a cloud-based system. In other words, cloud-based systems for tenant billing electronically collect consumption data, streamlining the invoice process. Additionally, tenant billing offers visualization of real-time energy consumption data, centralizes billing activities, and presents tenants with transparent reports of their utility usage.
Consequently, increasing general awareness of energy consumption habits moves to improve sustainability efforts. For example, The United States Department of Energy’s Federal Energy Management Program (FEMP) found that tenant metering can lead to reducing energy costs by up to 45%. So what makes tenant billing successful?
Tenant Billing and Metering- 3 Key Components to Success
Secure Web Portals
Firstly, a singular secure web portal allows owners and operators to verify the total utility bill and the allocated costs (including common areas) for the building tenants for each month and highlights any data gaps.
Secure Web Portals Offer:
- Total Energy and Demand
- Status of All Meters
- Data Quality Events
Secondly, a Finance Dashboard allows the owner and operator to forecast utility costs, research historical costs, and adjust common area percentage allocations to match with tenant triple net lease agreements.
Finance Dashboards Offer:
- Total Cost Month to Date
- Forecast Cost Through the end of the Month
- Historical Costs and Comparisons
Thirdly, the Billing Center allows operators to verify utility bills and tenant cost allocations quickly, email accurate tenant bills, and ensures billing errors are caught before they go to tenants.
Billing Centers Offer:
- Total Utility Overview each Month
- Calculated Utility Bills by Month
- Calculated Tenant Bills by Month
- Tenant Cost Allocation Chart
Proactive Monitoring of Your Power System– No End of Month Surprises
Power monitoring allows us to highlight data quality as soon as communication failures occur before the end of the month when no data may be available. APT’s long and deep experience enables us to leverage our accurate coincident demand calculations to accurately allocate costs to each tenant. Above all, our experience with meter data management ensures you don’t have to worry about meter rollovers or time changes.
Additionally, APT provides three service level solutions based on the owner/operator needs and included utilities. Moreover, APT strives to differentiate itself from competitors, primarily offering solutions based on units served vs. service level needs. For more information on tenant billing and metering solutions contact us today.
Scott McGaugh, Chief Revenue Officer of APT