What Is Utility Management Solutions Software and How Can It Streamline Your Business?

UTILITY MANAGEMENT SOFTWARE DEFINED


Utility management software automates bill processing and resident billing, while collecting real-time utility data in one convenient place.

The State of Utility Management in the Multifamily Industry

As a whole, the utility management industry suffers from outdated processes and a lack of automation. For many property managers, managing utility bills and resident charges is a time-consuming and frustrating monthly process. Until now, there hasn't really been an easy alternative.

How Technology Can Improve Your Utility Management System

Fortunately, recent advancements in technology make it easier for businesses to manage utilities more efficiently. Repetitive, manual tasks — like bill collecting, entering, and tracking — can now be automated with the use of innovative utility management software.

Ways Utility Management Software Can Streamline Your Business

  • Improves efficiency by eliminating manual data entry for invoice processing
  • Gives your team more time to focus on building customer relationships
  • Makes it easier to gain visibility into costly spikes or leaks
  • Provides insights on savings opportunities through analytics

Why You Should Take Advantage of Utility Management Software

Unorganized utility management can cost your business a lot of time and money. If you use multiple spreadsheets or an outdated utility billing system with limited analytics and insights, it can be difficult to get a full picture of where your utility spend goes and where you have opportunities to save.

7 Benefits of Modern Utility Management Software

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Saves time

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Reduces utility costs & usage

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Increases ROI

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Improves efficiency

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Increases accuracy

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Provides data & insights for better decisions

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Improves the employee & resident experience

What Is AppFolio Utility Management?

Utility Management is a feature within AppFolio Property Manager that automates utility billing, converges resident billing, and analyzes data, so you can maximize your net operating income, increase efficiency, and discover new opportunities.

A screen shot of the AppFolio Investment Manager portal home page.

How AppFolio Utility Management Helps Your Business:

A woman sitting at a desk and pointing to a location on a peice of paper.

Enhances the Employee Experience

  • Removes the time-consuming process of manually collecting and entering data
  • Gives your team back time to focus on what they do best, like building customer relationships
A fanned out stack of utility billing statements.

Maximizes Net Operating Income (NOI)

  • Converts costs to a source of revenue
  • Brings costs down to boost your bottom line
  • Can handle costs for both RUBs & submeters
A tablet displaying utility usage statistics for a specific housing unit.

Provides Insights & Opportunities

  • Quickly detects abnormal usage spikes and leaks, so you can fix issues fast
  • Benchmarks your building's usage against others and identifies savings opportunities
  • Measures the potential impact of future retrofit projects
Now that we've started to use AppFolio's Utility Management functionality, we can offload the utility bills to AppFolio without hiring new staff.

Alethea ParkerPresident, Artcraft Management

How AppFolio Utility Management Works

A screen shot of the AppFolio Property Manager Billing tool that comes after a water utility bill.
1

Utility bill is received by AppFolio. It's then entered and a payable is created in AppFolio Property Manager

A screen shot of a paper check that comes after the AppFolio Property Manager Billing tool.
2

Utility is paid on your behalf

A screen shot of the AppFolio Property Manager Billing tool, with three charges that are connected to headshots of two women and a man.
3

Charges are assigned to residents based on lease

A screen shot of the AppFolio Property Manager Renter's Online Portal showing the amounts owed, and adjacent a headshot of a woman.
4

Rent and utility charges are combined and posted in AppFolio's online portal for resident payment

A screen shot of the AppFolio Property Manager water spike report.
5

Utility analytics detects spikes, tracks variances, and identifies opportunities

1

Utility bill is received by AppFolio. It's then entered and a payable is created in AppFolio Property Manager

A screen shot of the AppFolio Property Manager Billing tool that comes after a water utility bill.
2

Utility is paid on your behalf

A screen shot of a paper check that comes after the AppFolio Property Manager Billing tool.
3

Charges are assigned to residents based on lease

A screen shot of the AppFolio Property Manager Billing tool, with three charges that are connected to headshots of two women and a man.
4

Rent and utility charges are combined and posted in AppFolio's online portal for resident payment

A screen shot of the AppFolio Property Manager Renter's Online Portal showing the amounts owed, and adjacent a headshot of a woman.
5

Utility analytics detects spikes, tracks variances, and identifies opportunities

A screen shot of the AppFolio Property Manager water spike report.

Is AppFolio Utility Management Right For You?

AppFolio Utility Management could be a great fit for you if:

  • Your team is struggling to keep up with manual payments and billing
  • Late payments and poor vacant cost recovery are hurting your net operating income
  • You don't have any way to detect usage spikes or leaks until it's too late
  • Your building already has submetering, but you're not sure it's billing residents correctly
  • Your residents are unhappy with the current utility management system you have in place
  • You want to stay ahead of the curve when it comes to sustainability and efficiency
With AppFolio's Utility Management, we spend more time growing our business and less time managing utilities. We have dramatically reduced late fees for our properties, and we appreciate the responsiveness and strategic partnership from AppFolio's team.

Annelise KapishController, Tzadik Management

FAQs

What is utility management software?

Utility management software automates bill processing and resident billing, while collecting real-time utility data in one convenient place.

How can utility management software benefit my business?

Utility management software makes it easier for you to manage utilities more efficiently. Repetitive, manual tasks — like bill collecting, entering, and tracking — can be automated with the use of utility management software.

How does utility management software save time?

Utility management software is easy-to-use and helps reduce the manual work associated with utilities by automating utility billing and payments, so your team can spend more time growing your existing business.

How does utility management software provide new opportunities?

Utility management software helps you gain greater visibility into costly spikes or leaks early and accurately. In addition, it benchmarks your building's usage against others and identifies savings opportunities in your area, so you can find ways to reduce utility costs and usage.

In what ways can utility management software maximize my ROI?

Utility management software eliminates late fees with on-time billing, and recovers utility costs as a new revenue source, so you can improve your NOI.

Why should I charge residents in my buildings for the utilities that they owe?

It's better for your bottom line and the environment.

What are some of the problems of not having utility management software?

Without the right utility management software it can be difficult to get a full picture of where your utility spend goes and where you have opportunities to save. In addition, managing utility bills and invoicing is time intensive, and mistakes can result in late fees, further impacting your net operating income.




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