Vacant Cost Recovery
As a property management team, we know that you are concerned with the sometimes tedious task of collecting and paying the utilities invoices for multiple locations. Added into that is the Vacancy Cost Recovery that must make sure the customer is billed on the exact day the property is leased.
VCR helps owners recover costs associated with tenants who fail to transition utility services to their name on or before moving it. Many times, property owners’ end up having to pay for the resident’s utility expenses until the account is corrected.
With RadiusPoint’s VCR services, owners will not have to worry as we are able to recover costs on tenants who do not close their utility accounts before moving out. We will also ensure that we can help offset energy costs. We will keep records and collect data from all utility bills, using our ExpenseLogic software. Not only will we help with false charges, but you will also save on late fees.
By choosing our services, we will be able to recover charges that have been mistakenly allocated toward your property’s bills as we offer services, from billing to collections, customer service, and more. Vacant unit theft will be your last concern.
Who is responsible?
Only about half of multi and single family housing perform VCR, meaning a large about of companies are spending money on utilities that they should not be responsible for.
A utility expense management (UEM) provider, like RadiusPoint can help ensure you are not over spending or paying for utilities that you are not liable for. Many times, the profits generated from conducting vacant cost recovery will offset the costs associated with hiring a UEM partner. As more property management firms begin to use utility expense management, there will be fewer utility invoice errors and late fees to worry about.