Submetering is the most accurate method of recovering variable utility costs. The Inovonics TapWatch system is the leading wireless submetering system for multifamily properties. By measuring individual residents’ utility consumption and billing them directly for their use, multifamily properties benefit from reduced variable utility costs, improved net operating income, and increased property value.
How the system works
Unlike ratio utility billing systems (RUBS), a submetering system tracks each resident’s monthly utility use, and a billing company provides a bill to each resident based on their personal usage. Submetering not only reduces a property’s operating expenses, but also encourages utility conservation among residents. More than 1.2 million apartment units are currently using Inovonics submetering systems to recover utility costs.
Definable return on investment
Submetering not only saves money, but it also improves the marketability of a property. Since residents are responsible for their own utilities, properties can offer more competitive rents, attracting more prospective residents. Since the wireless submetering system is compatible with water, electric and gas meters, properties can recover virtually all utility expenses associated with individual apartment units. A property’s operating budget is no longer affected by utility rate increases or spikes in resident usage.
Advantages of wireless technology
Inovonics’ commercial-grade technology affords the most powerful and affordable wireless sensor network available to the commercial building market. The self-healing, self-configuring EchoStream® Commercial Mesh Network provides the robust backbone of the TapWatch submetering application. Inovonics is the first multifamily technology provider to successfully enable a scalable infrastructure that can support multiple resident amenity applications on a single wireless network.