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Vacant Cost Recovery


Designed with the multi-family property in mind, vacant cost recovery is the process of recuperating any expenditure that would otherwise be lost due to tenants not transferring utility service into their name upon move-in. Left unchecked, this cost can grow into many thousands of dollars in lost revenue that would otherwise be wasted. Don’t lose revenue due to unfulfilled responsibilities of your tenants!
Using Vacant Cost Recovery within UtilityTrakRTM, methods can be set up to automatically reconcile costs associated with delayed utility service transfer and pass them back to the resident. Using our unique set of options, customize your costs in a number of useful ways:

  • Charge a customizable late utility registration fee in addition to any recouped VCR charge.
  • Set optional grace periods and amounts to avoid automatically assessing charges to a resident who registered slightly late.
  • Enter many useful details for later audit on vacant bills, and run reports that let you see these on a month to month, unit by unit, or even single bill basis with the option of viewing the original image of the bill.
  • Run reports to view all vacant fees charged back to residents for any time period, and see targeted collections reports that detail payments specifically towards these fees
  • Include on your monthly utilities statement with any RUBS, sub-metered, or even convergent (rent, pet fee, internet, etc) charge

How it works:

  1. Input your vacant bills into the system (excel import or normal entry) and optionally store utility bill images that can be referenced at any later time.
  2. Residents are allocated costs and any additional fees you specify based upon their occupancy dates VS. date of the vacant bills.
  3. Residents see these charges on their normal monthly bill in addition to any regularly invoiced services.
Easy as 1, 2, 3!
Give us a call today to see it in action
(806) 792-9863
 
sales@starnik.com