Tenant billing depends on a building’s leasing structure and impacts how tenants are charged for monthly utility consumption. Tenants with full gross leases do not get an extra bill for their utilities each month, but tenants with triple net and net of electric leases do. Bills are calculated based on submeter readings of different spaces in the building. Historically, tenant billing has been done by hand, but now automated processes such as Aquicore’s Tenant Billing exist.
Why it Matters
When a building has many tenants that are all billed differently, the process of reading meters, calculating bills, and sending invoices to tenants is time consuming and error prone, and can often take days to complete. With automated tenant billing, meter data can be collected automatically, and accurate utility invoices can be sent to tenants with just a few clicks.