A recent Wall Street Journal article pointed out that water and sewer bills have increased over 5.5% annually over the last decade, three times the rate of inflation. And that pace is likely to continue, due to aging water and sewer infrastructure.
If it hasn’t already, this will pinch the pocketbooks of apartment owners and residents. Owners can’t just keep increasing the utility budget each year, so they will have to take proactive measures to keep down costs. In addition to installing low flow devices like toilets, shower heads, and aerators, owners will have watch for and manage leaks as timely as possible. Owners will also have to make sure that their resident billing programs are as effective as can be, or they will take on the risk of absorbing these higher costs. Owners who don’t have a comprehensive approach to this problem will literally pay the price.