Are you looking to maximize your rental property return on investment (ROI)? Installing individual water submeters can help you save money and boost profits over time.
What are water submeters and how do they work?
Water submeters are secondary meters that track water usage for specific units within a property. This allows landlords to bill each tenant for their actual consumption rather than dividing costs evenly.
Submeters connect to the main water supply line and use remote reading technology to monitor real-time data. Usage information is then transmitted to the manager to generate individual bills.
Four benefits of using submeters in rental properties
Here are the four top reasons to install submeters:
- Accurate tenant billing
Submeters allow you to charge tenants only for the water they use. Without them, light users unfairly subsidize heavier users when costs are divided evenly.
- Water conservation incentives
Knowing they pay for exact usage motivates tenants to conserve more. This leads to significant resource savings over time.
- Faster leak identification
Unusually high submeter readings alert you to possible leaks before they become major issues. This allows you to address these problems right away to avoid costlier problems in the future.
- Increased property value
Upgrading to submeters makes units more profitable and attractive to renters. It also shows potential buyers your property is well-managed.
Submeter cost and ROI
The cost of a submeter installation can vary depending on building size and complexity. While there is an initial investment, the energy and water savings combined with better cost recovery means you will see a full ROI in just a few years.
Many utilities even offer rebates and financing to offset your expenses. Also, submeters require little long-term maintenance except periodic calibration.
Consult the Experts at Plumbers 911
As a rental owner, investments that reduce costs, improve profitability and enhance value make good financial sense. Submetering delivers a strong ROI over time.
To determine if water submeters are right for your property, contact the experts at Plumbers 911 to schedule a consultation. Their team of qualified affiliated contractors can:
- Assess your current setup
- Recommend optimal metering solutions
- Provide accurate project cost estimates
Take control of water expenses and maximize the return on your rental investment today with submeter installation help from Plumbers 911.
Plumbers 911 is a referral service affiliated with the top local, licensed, bonded and insured plumbing contractors in the area. They employ highly qualified plumbers who receive over 10,000 hours of training and undergo rigorous background checks.
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