at Multifamily Properties
dent self-service technology. The payables reside in the
property manager’s centralized accounting system, along
with scanned images of the invoices. They can be auto-approved and ready for immediate payment to the utility
companies by check or through the Automated Clearing
House (ACH), helping property managers avoid utility
shutoffs or fees for late payments.
An integrated billing system also measures consumption by submetering and/or RUBS. The system auto-cal-culates resident utility charges and calculates individual
resident utility charges. Convergent bills, which are key
to ensuring timely utility payment, are auto-generated
and sent electronically, by hard mail, or made available
via a portal. Resident payments are collected and processed either online through the resident portal or by
check-scanning automation for bills paid by check. All
measurements, allocations, calculations and processing
are performed directly in the central database, so no data
transfer is required. Convergent billing payments are processed once, eliminating third-party processing, reducing
overhead costs and maximizing cash flow with faster payments. Paperless invoice processing and payments also
promote sustainability initiatives while reducing paper
handling and postage costs.
By leveraging integrated utility data with resident data
in the property management system, the resulting auto-
mation provides an early warning for potentially costly
abnormalities, such as spikes in usage, leaks or broken
meters. The system captures anomalous data and sends
automated e-mail notifications to property managers.
Joel R. Nelson is a senior writer at Yardi Systems.