With Utility Expense Management, PayLease takes over the time-consuming process of collecting and paying each of your properties’ utility bills. Not only that, but we’ll carefully analyze each utility invoice, searching for billing errors and opportunities to save money. We dispute any errors on your behalf, and can even bill your residents for their share of utilities. PayLease manages the entire utility process, leaving you with significant time savings and improved NOI.
Do you know that 38% of utility invoices contain an error?
That’s because our utility experts routinely catch billing errors that go unnoticed by the untrained eye. With our Utility Expense Management solution, you won’t think you’re being billed correctly, you’ll KNOW it. Here’s how else we deliver peace of mind:
Invoice Receipt & Auditing
We remove the burden of mail collection, track invoices received and missing, and carefully audit your bills.
We pay each of your utility bills by its due date to eliminate late fees.
When we find an error, we’ll dispute it on your behalf.
Utility invoice information populates directly into property management software.
Reporting & Benchmarking
Always have a precise picture of your utility consumption and spend. Plus, compare your properties to similar ones outside your portfolio for benchmarking.
Energy Supply Management
Energy Star reporting, site-by-site account opening and closing, and energy procurement.
Vacant Cost Recovery
How do you take an expense on your P&L and turn it into a revenue stream? With our Vacant Cost Recovery. By tying together your occupancy information and your utility bills, we can catch opportunities to recover un-recouped utility expenses – and even create a revenue stream by charging the resident for their tardiness.
If a resident moves in and does not transfer utilities to their name, you will receive an email notification as soon as the utility invoice is generated, so you can take immediate action.
View individual Vacant Cost Recovery prebills prior to resident distribution so you can approve the charges or make any desired edits.
Flexible, Customizable Assessment & Penalty Options
Customize grace periods, billing parameters (by unit, utility type, etc.), and in accordance with local regulations, tiered penalty fees for repeat offenders. Our team will advise you on the best vacant cost recovery options based on your needs and local compliance and jurisdictional requirements.
Introducing Portfolio Insights Dashboard
Gain instant insights about your properties’ utility and recoupment metrics so you can lower operating costs and improve revenue. Benchmark property and portfolio performance, identify trends, and pinpoint anomalies with the help of our built-in business intelligence and reporting platform.
"Utility Expense Management is personally my favorite PayLease solution because I’m not babysitting utilities for 200 properties. They do a fantastic job at managing that for us and we no longer worry about a ball getting dropped."
Jennifer Howard | Chief Financial Officer at Boutique Apartments
When you Combine Products You See Bigger Savings
Reduce operating costs. Meet resident expectations. Improve productivity. Thanks to new technology, the age-old problems surrounding rent collection, chargebacks, and recouping utility expenses are being eliminated for property managers, leaving an impressive impact on their NOI.
Hobson and Company, a leading ROI research firm, interviewed 18 PayLease clients to see how integrated payments and utility billing solutions have impacted their business operations. Discover how these property management companies are using technology to combat inefficient & time consuming processes, increasing costs and market & competitive pressures.