Monarch Investment Group owns and manages multifamily properties across 15 states. In total, they have approximately 22,000 units within their portfolio.
In the first month of sending resident billing statements, we not only recouped those applicable residents’ gas charges, but we saw rent delinquencies drop by approximately $3,000 per month.
MATT RUTHERFORD, UTILITY ANALYST
Monarch Investment Group recently acquired three multifamily communities in Michigan when they began working with us. Under the properties’ previous ownership, gas charges were built into each residents’ base rent, and not allocated back to the residents based on any type of flat rate or RUBS billing system. After analyzing the utility costs at each property, it became clear that this model was not cost effective for Monarch, particularly during winter months when seasonal gas expense skyrockets. With area rents holding steady and gas charges rapidly increasing, recouping utility costs by raising rent was not feasible.CONTINUE READING