What is Tenant Billing Software?
Tenant billing software is a term used for programs that digest tenant submetering data, and autoamtically generate invoices for tenants when the billing period ends.
Why it Matters
Tenant billing has historically been a manual process involving individuals going into tenant areas to record usage each month. This process is slow, inefficient, and prone to errors, as outlined in this article: 10 Things Wrong with Tenant Submetering (and How to Fix Them).
Instead, tenant billing software uses cloud-connected meters to automatically collect consumption data, and use that data to send invoices without the involvement of humans for meter readings or invoice creation. This saves property managers direct costs involved in automating a manual process as well as the indirect costs of faster cash recovery and fewer disputes with tenants.