DC Startup Working with Landlords on Energy Management, Consumption Costs
April 14, 2015 – Aquicore, the Washington, D.C.-based provider of energy management and tenant billing software for large commercial and industrial portfolios, has launched a free Tenant Submetering Calculator to help building owners and asset managers reduce their exposure to the risks of utility cost variations and provide tenants more accurate monthly invoices.
The calculator, downloadable as spreadsheets for gross leases or prorated leases in single-tenant and multi-tenant buildings, allow property managers to enter in the total sum of their utility bills to determine if there are any discrepancies between how much they are billed and how much they are collecting from tenants. The spreadsheets also provide options for transitioning one or more tenants from a square-footage based billing structure to submetered triple net leases.
“The shared environment provided by UberOffices was great for us as we proved our concept in the marketplace,” said Aquicore Founder and CEO Logan Soya. “But we started to outgrow our physical space there and needed a new type of collaborative environment. This Mount Vernon location is a perfect fit for the next phase of Aquicore’s growth.”
“With a gross lease, landlords are responsible the energy consumption variation,” said Logan Soya, CEO of Aquicore. “With submetering, tenants become responsible for their own consumption variation.”
Similarly, with prorated leases, where each tenant is exposed to a shared value, the calculators show how tenants with lower energy consumption can submeter their space to achieve savings in monthly energy costs.
Soya says that the cost for submetering, which is now required for LEED certification, is often wrapped into the tenant’s occupancy costs as part of its Tenant Improvement allowance.
“Transitioning tenants from a square-footage based billing structure to submetering can be tricky without an installed metering system, but the new free calculator helps landlords and tenants see how they can benefit from this process,” said Soya.
Aquicore is a real-time energy management software, which allows you to analyze all of your energy data on one centralized platform. Specializing in commercial real-estate and industrial facilities, Aquicore provides complete transparency into your energy consumption so you can take control of your bills.
Our AQ-Optimization platform integrates metering and sub-metering data, to help you optimize your portfolio performance. AQ-Optimization allows you to maintain a stable operating schedule with low baseloads, define projects priorities, and yield considerable savings on your energy bills. Learn more…
AQ-Tenant Billing is an effortless tenant invoicing process, which allows you to quickly provide tenants with accurate bills. Automated readings of submeter data, along with automated bill calculation and invoice generation, will eliminate days of processing and help ensure that you get paid on-time.Learn more…