Increasing Recovery from Submetered Tenants by $100,000
A 480,000 sq ft Class A office building in New York had been doing submetering with a legacy provider for many years. The on-site teams had always had a hunch that they were undercharging tenants for their submetered usage but there was no online portal to get transparency.
What We Did
Ownership adopted the Enertiv Platform to digitize operations across maintenance, energy management, and tenant billing.
The transition was simple, Enertiv was able to leverage the existing metering infrastructure to pull in tenant utility consumption data in real time.
The difference was a much more sophisticated billing system and client success team.
How It Turned Out
In the first month of taking over the billing, Enertiv identified a significant error that the previous vendor had been performing when calculating the rate billed to tenants.
Annualized, catching that error added $100,000 to the bottom line of the property.
From there, the property will improve cash flow even more by reducing operating expenses related to maintenance and base building energy use.
