Utility Billing and Cost Recovery Insights
Investors Show Their Love for Multifamily Properties
With retail and hospitality industries in a perpetual state of uncertainty since the global pandemic started in 2020, real estate investors have been drawn to multifamily properties. There is particular excitement about properties in areas outside of major metros, like Jacksonville . During the pandemic, these more affordable, less dense areas have become newly popular with former urbanites looking for more space and easier access to nature.
Utility Rates are Ever-Increasing
Electricity Nationwide, property owners should expect across-the-board ongoing utility increases, with some jurisdictions expected to see double-digit rate hikes. According to a survey from the U.S. Energy Information Administration , the residential electricity price nationwide increased just under 1% between 2020 and 2021, continuing an upward trend - rates have gone up 6% in the last decade.
The Rental Market in Major Cities During Year One of the Global Pandemic
Renters fled from the most expensive cities in droves after the coronavirus pandemic began in the spring of 2020, in some states remote work continued into the following year and those who were able continued to leave major cities in search of more square footage, private outdoor spaces, less density and greater affordability.
The Livable Team’s Favorite Apartment Industry Tech
“As a technology company that serves the multifamily market, we often run across other unique and innovative firms that also use smart systems to make running an apartment building or community easier. We’d like to highlight a few of these cutting-edge businesses”
Rent Control Is Back on the Ballot in 2020
Here We Go Again It may be 2020 but it’s starting to feel like 2018 all over again. A big election is looming and tenant advocates are once again bringing a rent control measure to the California ballot.
Utilities NOT Included — Now More than Ever
At Livable we provide utility management and cost recovery solutions for commercial and residential properties. Although you can't regulate the rates, you can take steps to keep costs at a minimum. In the fall of 2020, over 7 million in California were filing jobless claims since businesses began closing in March, many moved in with loved ones to save money or left the state altogether.
Livable is Committed to Teaching your Team About Ratio Utility Billing
At Livable we provide a Ratio Utility Billing System designed to help reduce your environmental footprint while generating revenue for your property. You may have started a conservation program in your properties, let the Livable team further your savings and teach you new and improved ways to save.
How Livable has Dealt with the Covid-19 Pandemic
Across the board, since 2020 Livable staff have continued to be a productive team while spending valued time with family and even taking time to give back while dealing with lockdowns and restrictions .
Help for the Housing Industry during the Pandemic
In 2020 the push and pull between lockdowns and eased restrictions impacted housing and housing providers. The rental housing industry was hit hard by the economic downturn brought on by shelter-in-place laws .
Covid-19 Pandemic and Renter Habits
During the Corona Virus pandemic, there have been several lockdowns resulting in weeks of remaining sheltered in place. From construction to real estate and property management , many of the vendors that property owners rely on have been put at a standstill time and time again. In turn, renters have been anxious to make a move when there is a window of opportunity offered. Are your units ready to be shown?
Covid-19 Pandemic: The Effects on Utilities From the Beginning
At the beginning of the pandemic in early 2020 Livable along with several utility-based companies did our part to make sure that residents were able to afford their utilities. In April 2020 Livable announced that we were suspending all late fees until July 1, 2020. Throughout the pandemic, we have remained committed to promoting conservation through billing and education , and with no minimums.
Charging For Utilities: A Renter’s Pros And Cons
At Livable we create custom utility management and cost recovery solutions for commercial and residential properties, and it seems our expertise is needed now more than ever! It used the be that the “American Dream” was synonymous with homeownership, however, Millennials don’t seem to be putting the same emphasis on buying property as previous generations, thus renting has become more the norm.