Property manager contacted me about a small office building in Denver. Xcel Energy has 8 separate meters for individual suites plus common areas. Total monthly bills around $12,000 across all meters. Most individual suites are under $800/month. Is this worth pursuing or should I stick to larger commercial accounts?
Small office building - multiple meters
Roy, I'd look at it if the property manager is willing to give you access to all the billing data. Multiple small meters can actually work in your favor - if there's a systematic issue like wrong rate classification, it could affect several meters. Plus $12K total monthly spend is decent size.
That's what I was thinking Joanne. The property manager has all the bills since tenants pay rent plus utilities. Might be easier than dealing with individual small business owners who are protective of their billing data.