Does anyone know if MAA is considering or currently uses water submetering. I read an outstanding article (sorry, tried to find the link) that discussed the outstanding payback (on the upfront costs) to submeter tenants.
Still considering MAA and this is just a question to evaluate anecdotally how "ahead of the curve" the companies thinking is and/or if there are alternate thoughts.
Sub-metering and billing residents for their water consumption makes a ton of sense on a number of fronts...for the residents, for the local water utility, for the environment (and, of course, the property owners). It is essentially an expense line item that the property owner has very little control over (except for common areas)...the person who controls consumption and cost the most is the resident.
MAA really helped to launch this initiative for our industry....we started approximately six years ago. It's been a real battle ground with some states and local water utilities....so it isn't a slam dunk to initiate (important to do your homework in this area).
As of today, over 29,000 of MAA's units are either sub-metered or part of a Resident Utility Billing System ("RUBS"). We expect to collect just over $4 million this year in water billing reimbursements.
In reference to the other posting on this subject, I don't know about write-offs that may have been incurred with other companies (we sure haven't incurred any)...I suspect it may have to do with accruals on billed amounts that were later deemed uncollectable (we "true up" accruals to actual collections every month).
By the way....the "water" bill is a logical platform for rolling out billing for other similar "utility" services (trash removal, natural gas,....) which MAA also has well underway.