Vacant Cost Recovery
Often, residents move into a complex and forget to switch over utilities. It can take months for the property to realize the name change has not occurred. In many cases, the property is paying for the unit’s utility consumption and cannot bill the resident back. With Vacant Cost Recovery (VCR), the property will never have to pay for an occupied unit’s utility costs. VCR is a solution Ikehu Utility Solutions offers to help the property recover utility costs of occupied units. At or before move-in, a resident should switch all utilities from the property to their name. In some cases, residents forget to switch utilities over to their name, which causes the property to pay for all costs. With VCR, we catch those occupied units that do not switch over the utilities and make sure the property does not cover the costs of utility consumption. We deduct the consumption of that unit from the master bill, and add it to the resident’s bill. In some cases, we save a property thousands of dollars in utility bills and property operating costs.
Benefits of Vacant Cost Recovery
- Encourages residents to put utilities in their name
- Catch residents who do not put utilities in their name
- Bill residents for the usage from the master bill
Contact our sales department for more information.