Join us in the latest episode of the "Multifamily Investing with Multifamily Attorney Charles Dobens" podcast as Charles delves into the intricate world of utility management in multifamily properties. In this episode, he uncovers the ins and outs of submetering, exploring how it can revolutionize your property's NOI and tenant relationships. From deciphering income and expense statements to understanding the implications of all bills-paid properties, Charles leaves no stone unturned in this comprehensive discussion.

Learn how submetering can empower landlords to optimize utility revenue while ensuring fair allocation among tenants. But beware of the pitfalls! Charles shares cautionary tales and real-life examples to highlight the importance of market research and strategic decision-making when implementing submetering solutions.

Listen to all our episodes and leave a review: HERE 

Subscribe:  Apple | Google Play | Stitcher | Spotify

Navigating Utility Management with The Submeter Solutions Approach

Welcome to our podcast episode where Charles Dobens unravels the secrets of submetering and how it can revolutionize your property management approach. Charles explores the ins and outs of submetering and its remarkable impact on revenue generation and operational efficiency.

In this episode, he will walk you through the key components of submetering and explain why it is essential for both property buyers and current owners. Understanding submetering is crucial, especially for newcomers to the industry, as it can save you from costly mistakes.

Charles begins by demystifying submetering and its counterpart, "Rubs" or Ratio Utility Billing System. He explains how to identify submetering in a property by analyzing the income and expense statements. This initial assessment provides valuable insights into maximizing utility income, while also considering local regulations that limit utility charges.

Delving deeper, he highlights the various methods used in submetering, such as calculating usage based on factors like flat rates or the number of tenants or bedrooms. Charles emphasizes the advantages of individually metered properties over all bills paid arrangements, as it aligns tenant expectations and promotes responsible usage.

He also shares cautionary tales and draws from personal experiences to shed light on potential pitfalls. With Charles' firsthand knowledge, he offers guidance on effective strategies to avoid common mistakes when shifting utility costs to tenants.

To ensure seamless implementation and compliance with regulations, he recommends partnering with experts like Kelly Koontz from SubmeterSolutions.com. Their comprehensive submetering solutions, including cutting-edge technology and administration services, streamline the process and ensure accurate billing.

Additionally, he explores the positive impact of submetering on tenant behavior and utility consumption. By making tenants accountable for their utility usage, you can significantly reduce ongoing expenses and increase your property's profitability.

As Charles discusses the financial aspects, he highlights the cost-effectiveness of submetering solutions across properties of all sizes. Gone are the days when only large properties could benefit from submetering. He reveals how even duplexes and smaller units can leverage submetering tools to unlock their revenue potential.

Finally, he touches on the advantages of real-time monitoring through cloud-based systems. Instant access to utility usage data enables swift detection of leaks and abnormalities, helping you address issues promptly and prevent costly water-related incidents.

Prepare to be enlightened and equipped with practical insights as we navigate the world of submetering. Join us on this podcast journey and discover how submetering can optimize revenue and efficiency in your property management endeavors.

Get Access to the Free E-Book on Submeter Solutions from Charles Dobens

Watch Podcast #240 with Kelly Koontz on Youtube

Listen to Podcast #240 with Kelly Koontz on Apple Podcast

Check out Charles' MultifamilyOS™ Business Builder Program HERE

We Need Your Help! 

Thank you for being a part of the MFIA Podcast community! We couldn't do this without you, and we truly appreciate your support.

If you've found value in the conversations and interviews, we share each week, we would be incredibly grateful if you could take a moment to help us out.

By subscribing to the show and leaving an honest review on iTunes, you can help us continue to deliver the best possible content and reach more investors like you.

So please, take a few minutes to leave a review and let us know what you think. Your feedback means the world to us! You can leave a review by simply heading: HERE

Thanks again for listening, and we can't wait to keep sharing amazing content with you.