For many landowners, landlords, and managing agents, sub-metering is often an afterthought in new builds and re-developments. However, clever sub-metering can inform a strategic energy management ethos within your buildings.
Sub-metering is the best technology investment your business can make. The energy specialists at Smarter Business believe that sub-metering strategy is not only mandatory for billing in multi-let buildings, but also informs a strategy that will simplify your tenant relationships and has the potential to increase your cash flow. Some of the benefits and features include:
Fair, accurate billing Gone are the days of billing different tenants in a building based on averages. Sub-metering allows for the collection of detailed data for accurate billing from tenant to tenant.
Improved energy management practices Research has shown that, where tenants are accountable for their individual habits, energy management practices improve and behaviour changes resulting in up to 15% reduction in usage over time.
This data can also alert you to waste areas and indicate the energy requirements of particular equipment and processes which can, in turn, inform a change in behaviour.
Ease of administration Data is a powerful tool to reduce disputes and save time and resources from a managerial perspective. Administering tenant bills can be enormously time consuming – but this is nothing compared to the time and resources it can take to resolve a dispute.
The collection of accurate data also stands to reduce instances of non-payment and these attitudes can lead to long-standing tenants rather than a string of different businesses moving through your premises.
Let sub-metering be the starting point and invest in the best Don’t just do the minimum for compliance and leave it at that. Treat your sub-metering as the specialist area it is. By installing a robust, trusted meter system, you are investing in potentially powerful technology for your development – but that’s just the start.
At the development or re-development stage, give real consideration to additional outcomes you would like to achieve and incorporate this into your sub-metering strategy. By adopting an inclusive approach with your tenants, this is an important cog in greater energy strategy to make the most of incentives, make use of reporting, monitoring, and set targets for optimal energy management – and this may well differ from building to building.
Engaging with energy experts who have a solid understanding of sub-metering is good practice for any developer or managing agent. Smarter Business have expertise and the latest industry knowledge to advise on the best course of action for your sub-metering strategy. Contact them today to develop your strategy.