Our company owns and manages a portfolio of over 500 residential units throughout New York and New Jersey.
Like many owner operators we manage our own properties and are very sensitive to bills, especially those that are costly and beyond our control such as heat bills.
Each month we find ourselves paying heat bills while watching our residents waste energy and reducing our cash flow.
Normally, separating heat involves separating boilers, water lines, zone valves and requires lots of capital expense upfront, leaving a long payback and low ROI.
There must be a better way!
since investing $4,000-$6,000 per unit with the traditional heat separation wasn't an option we were forced to look outside the box at other alternatives to pass on our heat bills to our residents.
There are sub meter options out there but they were expensive, hard to install and didn't give us any control over the temperatures. So.. we were able to develop a patent pending web-based software which measures the amount of time each thermostat is on in a single month (run time) enabling us to accurately allocate usage per unit and charge back the residents.
Since we are using smart thermostats we are able to fully control them, setting them in an algorithm that can save between 25%-30% on the heat cost for apartments that are under rent control or in areas where its not legal to charge residents back for their heat.
The cost for the system is a fraction to the standard heat separation investment and can be recoup in a single winter season.