Printer Friendly
The Free Library
14,715,855 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Water sub-metering helps managers recapture costs, increase profits.


A leaky leak·y  
adj. leak·i·er, leak·i·est
Permitting leaks or leakage: a leaky roof; a leaky defense system.

Adj. 1.
 faucet can cost a New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 property manager as much as $100 each year for water and sewer costs. If 25 percent of all faucets are leaking in a 300-unit building, this waste translates into $7,500 per year down drain.

Imagine how much building owners speed on total wafer usage. What if the property manager no longer had to bear the financial responsibility for that plumbing problem - or for the total water and sewer bill? That fantasy becomes reality for landlords who put water sub-metering to work in their residential properties.

Water sub-metering has been the practice in Europe for decades, as mandated by state laws, and is only now poised to take the U.S. by storm. Using sophisticated meters to accurately read the consumption of water by individual units, building owners and managers can then reallocate Verb 1. reallocate - allocate, distribute, or apportion anew; "Congressional seats are reapportioned on the basis of census data"
reapportion

allocate, apportion - distribute according to a plan or set apart for a special purpose; "I am allocating a loaf of
 water and sewer costs to residents. Once considered a revolutionary concept, more and more landlords, large multi-family managers and even residents are joining the sub-metering bandwagon band·wag·on  
n.
1. An elaborately decorated wagon used to transport musicians in a parade.

2. Informal A cause or party that attracts increasing numbers of adherents:
.

The motivation for landlords and managers is clear: water sub-metering helps recapture recapture n. in income tax, the requirement that the taxpayer pay the amount of tax savings from past years due to accelerated depreciation or deferred capital gains upon sale of property. (See: income tax)


RECAPTURE, war.
 costs and increase cash-flow. It also reduces the big question mark landlords put down when trying to budget for rapidly rising water and sewer costs.

Water sub-metering is also a practice that should be championed by residents as well. It is the most viable solution to controlling rising water costs and reducing overall water consumption in the U.S. Unlike other frequently failed methods such as low-flow faucets and shower heads, which are often discarded dis·card  
v. dis·card·ed, dis·card·ing, dis·cards

v.tr.
1. To throw away; reject.

2.
a. To throw out (a playing card) from one's hand.

b.
 and disregarded by many building residents, water sub-metering is highly effective in reducing consumption by 15 to 20 percent. Simply, residents are more conscious of saving water when they are paying for their own usage, reacting immediately once a faucet starts to leak. Sub-metering causes self-monitoring.

Residents also receive a break on their occupancy costs Occupancy costs are the whole life costs of buildings and their associated land from occupancy until disposal. These costs may be incurred on a regular or irregular basis. Occupancy costs are those costs related to occupying a space including; rent, real estate taxes, personal  and never have to pay for their neighbor's excessive water consumption again. They additionally have the advantage of detecting water leaks now to stave off stave  
n.
1. A narrow strip of wood forming part of the sides of a barrel, tub, or similar structure.

2. A rung of a ladder or chair.

3. A staff or cudgel.

4. Music See staff1.
 properly damages later. Most important, they become active participants in environmental conservation - a win-win-win situation for property owners, residents and the world-at-large.

In many cities around the U.S., water and sewer rates have climbed to astronomical levels, in some cases exceeding electricity costs. In Washington, D.C. for example, water and sewer costs rose by 40 percent last year alone. Yet, water consumption by residents continues to increase, resulting in higher water costs for owners and managers.

In the scramble to find a timely solution to volatile cost, waste and conservation woes, many U.S. owners are turning to the European solution of water sub-metering. State-of-the-art sub-metering systems allow individual water usage to be electronically read and directly billed. Not only does this method of measuring consumption improve the property owner's overall bottom line, but it alleviates shrinking profit margins. lies show property value increases by to $10 per square foot with sub-metering technology. The return on an owner's investment is compelling.

Now that it's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a  for water sub-metering to come to the U.S., so has Raab Karcher Energy Services (RKES RKES Remote Keyless Entry System (vehicles) ). RKES, the leader in water sub-metering throughout Europe, is introducing its proven services and its innovative technology, the ISTAMETER, to the U.S. market. The ISTAMETER, a cutting-edge metering device specifically designed for sub-metering multi-unit buildings, monitors individual residents, water usage to create user-specific billing. As a result, owners can increase property profits and value, reduce the risk of increasing water and sewer costs, and play a major role in water conservation and the "green" movement.

Water sub-metering is the wave of the future for the U.S. As RKES builds its national system of branch operations and local talent, property owners and residents in New York and around the country will be able to save money, save water and save the environment, with large-scale benefits that can revolutionize rev·o·lu·tion·ize  
tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es
1. To bring about a radical change in: Television has revolutionized news coverage.

2.
 water consumption processes well into the 21st Century.
COPYRIGHT 1998 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Focus on: Residential Real Estate
Author:Bachsleitner, Peter
Publication:Real Estate Weekly
Date:Mar 4, 1998
Words:654
Previous Article:Top 10 co-op sublet requirements.(Focus on: Residential Real Estate)
Next Article:Low inventory presents challenges in Westchester.(Focus on: Residential Real Estate)
Topics:



Related Articles
RSA files suit on H2O meters. (Rent Stabilization Association, New York City's water metering plan)
MetLife forges unusual MCI plan. (Metropolitan Life Insurance Co.; major capital improvement)
Challenges to multi-family profitability. (multi-family housing) (Residential Real Estate) (Industry Overview)
Switching to water-metering can benefit co-op, condo buildings. (New York City)
Submetering and Utility Allocation Assn. to set standards.(Focus On: Building Management & Maintenance)
What's next after Y2K?: Water meter issues face deadline.
Submetering: What You Don't Know Can Cost You.
SUBMETERING RESULTS IN MULTIFOLD BENEFITS ACROSS THE COUNTRY.
Beyond billing residents for utilities: growth in technology and the systems that support resident utility billing have opened doors to new...
J-REITs to the rescue! Japan's real estate investment trusts invigorate the market.(Company overview)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles