When you combine rising water rates across many Canadian provinces with the unforeseen stress brought on by the COVID-19 pandemic, landlords and residents alike are looking for ways to control and curb costs due to strained budgets. Water accounts for up to 90% of a bulk bill for landlords on non-metered suites. Submetering utilities like water offers a streamlined and effective way to mitigate these costs.
The solution: Landlords are discovering submetering as the most effective utility-management solution, adding zero cost to their budgets and introducing to residents a sustainable way to control their in-home water consumption. Through submetering, landlords gain a deeper understanding of usage across the complex, while residents (no longer subsidizing their neighbour’s water use) are free to enjoy the benefits of their own conservation.
The transition is simple: A submetering provider will design, install and commission a smart-meter solution at no cost to the building owner and with minimal disruption to residents. The whole process from signed agreement to active meters requires no more than 90 days.
Once submetered, individual unit residents pay only for their own water consumption, plus a small monthly administration charge that covers the cost of the service. This fee is typically lower than what is charged by your local utility provider. The landlord will be responsible only for water used in common areas.
In a 2020 case study conducted by Wyse Meter Solutions,a low-rise complex saw its cumulative property value increase by $12,000 per suite while bill-payers reduced water consumption by 31.5 per cent after being submetered.
Other benefits to this water efficiency model include:
Submetering providers take care to comply with all local regulations, which are in place to facilitate the growing adoption of water submetering. A submetering program is designed to read and bill the water meters owned by the submetering provider in full compliance with your city’s bylaws while often offering a higher quality of service than what the public utility might offer.
For many landlords, submetering has proven to be a powerful technology capable of answering some of the most difficult financial and behavioural challenges – all for zero capital costs to the building owner.