Many Commercial Real Estate (CRE) companies bill their tenants each month based on the amount of electricity, water and/or gas they consume. Generally, this is a smart business move. Not only does it guarantee that management won’t underestimate their tenants’ consumption and end up on the hook for the difference, increasingly savvy tenants are including utility billing as a factor in lease decisions.
There’s just one little problem. The current process of billing tenants for their actual consumption is inefficient, inaccurate, frustrating and costly. Here are the biggest problems with tenant submetering as it stands today and how technology can help alleviate them.