Expense Management

There is more to expense management than just reducing costs and operating expenses. It also involves streamlining and automating processes, identifying inefficiencies, and taking control of energy consumption and spending. These articles will steer you in the right direction.

Power Couple: Resident Billing and Invoice Processing

Utilities are among property managers’ top operating expenses, according to the NAA’s most recent survey of Operating Income and Expenses. Rising utility costs and unforeseen rate hikes coupled with increased utility billing regulations, as well as renter expectations of online payment options, have created a conundrum for multifamily owners who realize they must come up[]

RealPage Financial Suite Slashes Busy Work for Real Estate Accountants

If you’re a real estate accountant, take a moment to list the tasks that cost you the most time and headaches in your job. Next, compare your list to the seven accounting functions listed below that the RealPage Financial Suite speeds and streamlines. Then consider what your job would be like if all these tools were[]

Onsite Energy Generation and Weather

A friend of mine and I were chatting about on-site energy generation and what to do when the seasons change. Specifically, solar pool heating. “I turn my system off in the winter,” he said. As we are in California and our climate is very mild, I was surprised. “Why? What kind of system do you[]

Connecting with the Power of Data

Data is everywhere. Everything we do with any consistency can be broken down into specific data points, then trended and analyzed. We see it every day. From our phones telling us how long it takes to get to work without our asking, to suggested Amazon purchases in our Facebook feeds, to cold calls and spam[]

Selling Energy: Inspiring Ideas that Get More Projects Approved

A casual observer would assume that vendors and contractors sell energy projects to multifamily building owners. In reality, the energy managers and other internal champions connected to those buildings wind up doing most of the selling. They’re the ones who lobby to gain consensus among their peers in property management, facilities, and engineering, persuade senior[]

eBills: The Digital Life

eBills are no longer a new idea or technology, and the statistics back it up. Payment processor Fiserv reports that over 50 percent of Americans receive some bills electronically, and 78 percent of households are receptive to the idea. In fact, the majority of consumers receive at least a mix of paper and paperless bills.[]

The Benefits of Multifamily Energy Benchmarking

Over the last few years, the multifamily industry has been exposed to terms like benchmarking, sustainability and Energy Star Portfolio Manager (ESPM). These terms may be familiar to some with exposure to other markets, but they are alien to many of us in multifamily. To add more fuel to the fire, several cities, a couple[]

Submeters in the Balance

A little more than a year into California’s mandate of submetering on all new apartments, water conservation continues to be a hot topic. Effective Jan. 1, 2018, California SB-7 took effect and dashed the future of master metering. All new apartments are now required to meter individual consumption and provide billing on each unit. The[]

Energizing the Affordable Market through Utility Data

While it may sound dull, utility data is pretty exhilarating. The amount of data on a property’s bill is a road map to operational efficiency. It can uncover costly energy and water waste that can be reduced or eliminated, resulting in significant monetary savings. It’s like mining gold, says RealPage Senior Vice President of Spend[]

Five Ways to Create a Powerful Spend Management Program

When revenue management gets more scrutinized during shifts in market cycles (such as is the case now in the apartment industry), focus on expenses becomes more intense. Offsetting deficits of dollars coming in can, in many cases, be achieved by juggling the dollars going out. That seems to be top of mind for many stakeholders,[]

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