Turn can be overwhelming, seeing as your property is literally turning on its head – residents going out and new ones coming in. Especially with Covid-19 hindering your interaction with residents and shifting your operations online, there are a lot of moving parts that need handling. With SimpleBills, you won’t have to worry about managing your property’s third largest expense during this extra-crazy transition period. We make the utility part simple by taking it off your plate in order to give you more freedom to efficiently operate your property, saving you ample time and resources.
The first and perhaps most substantial method of savings is our Estimated Final Bill (EFB) process. The timing of when a resident receives a final utility bill is essential to overall collection rates. Essentially, each resident is billed for the previous month of utility usage plus an estimate for the remaining days on the lease before move-out. The usage for a residents’ final bill is predicted by our customized platform, using weather forecasts and past months’ usage data. After calculating a solid estimate, we will review this information with you, then process to invoice residents with plenty of time to pay their utility bill before move-out. When residents receive their invoice before move-out, there is a greater collection success versus attempting to collect an invoice post-move. Because of this, SimpleBills maintains an average of 86% collections rate on final months’ bills with our EFB process, saving properties at least a $100 per unit at the end of every lease cycle. SimpleBills has paved a new, smarter, simpler way to tackle turn season by increasing final bill collections compared to the industry standards.
By industry standards in utility management, there is normally a lot of heavy lifting that goes into setting up and taking down utilities. When the utilities are in the resident’s name, it’s incredibly difficult and time-consuming to setup and manage to. Setting up utilities usually involves a lot of provider phone calls during the busiest time of year and money wasted just to ‘turn on’ utilities. With SimpleBills, all of these difficult steps disappear. The site staffs’ life is easier for not having to manage these tasks or make sure residents converted utilities in their name by move in. This way, everybody wins!
Last but not least, our Account Managers have your back. We understand that utilities are for the experts, so if you notice something out of place, find something confusing, or have any questions pertaining to a resident’s account, we are here to help. We want to help in every way possible to give you more bandwidth to run your property without worrying about utilities. Give your designated Account Manager a call or shoot them an email so they can address your inquiry in a timely fashion. Don’t forget – You can also stay in-the-know with loads of data and analytics via your property portal.
Together, we will make this turn season a great one! For more key information on maximizing efficiencies, keep an eye out for a special in-depth look at our industry leading final bill process soon!