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CLIENT SUCCESS STORY
The Simon Konover Company
The Simon Konover Company is a full-service real estate organization with a portfolio comprising more than 80 properties across multiple market segments, including industrial, office, residential, retail and mixed-use. It owns and manages some of its management portfolio and also provides third-party management for other developers.
We recovered $370,000 in water and sewer charges last year as a result of our submetering program.
Greg Konover
President, The Simon Konover Company
Utility Billing immediately posts charges on the tenant ledger. We don’t have to think about it or spend time typing them in.
Greg Konover
President, The Simon Konover Company
The benefits
Yardi Utility Billing delivers accurate billing, saves time for onsite teams and promotes billing transparency for property occupants, with all processes seamlessly executed and recorded within Yardi Voyager.
The company
The Simon Konover Company, based in West Hartford, Conn., provides real estate acquisition and development, property and asset management, and leasing for an extensive portfolio of residential, retail, office, industrial and mixed use properties concentrated throughout the Midwest and Eastern regions of the United States.
The challenge
The Simon Konover Company sought to reduce the amount of time its property managers spent on utility billing and management tasks.
“Some of our properties were managing between 50 and 70 bills a month. All of this work was done in-house: receiving the bills, reviewing the bills, scanning and coding them for payment,” recalled Greg Konover, president of The Simon Konover Company.
The solution
Yardi Utility Billing and Submetering Services
Yardi Utility Billing automates utility billing and makes consumption data readily available to building occupants, saving staff members time previously spent collecting and analyzing billing data. Yardi Submetering Services installs and maintains the physical metering infrastructure at each property, ensuring accurate consumption readings flow directly into Yardi Utility Billing for seamless charge calculation and posting to tenant ledgers in Yardi Voyager. Together, the two services give The Simon Konover Company end-to-end control — from the meter to the bill — within a single connected solution.
The story
Time savings & charge recoveries
The major benefit of Yardi Utility Billing is staff efficiency.
“Yardi Utility Billing saves us time, makes our accounts payable process more accurate and seamlessly integrates with Yardi Voyager in a way that is extremely beneficial to our company,” Konover said.
He added, “We’ve been able to make our staff more efficient so they can devote their time to more important items. The enhanced submeter billing accuracy enabled several hundred thousand dollars of water/sewer charge recoveries in just one year.”
Stronger compliance
Yardi Utility Billing also ensures The Simon Konover Company with state and local laws regarding utility billing disclosure. “That has saved us time, and in some cases enabled us to charge administrative fees or match up billing procedures with applicable law,” Konover said.