Utility Management - Utility Junction

What to Expect When You’re Renovating

February 17, 2023 by Carolina Narvaez

Construction and utilities. Utility Junction

Many property investors are looking to make improvements to their properties. Whether it’s making repairs, increasing the value of the home, or just improving its look and feel, home renovations can be a great way to add some much-needed life into your home. Utility Junction takes a look at the basics of home renovations.

Pros and Cons of Home Renovations

The main benefit of home renovations is that they allow you to customize your space and make it appealing to buyers or renters. This can involve making repairs as needed, adding new rooms, or even reconfiguring existing spaces for better functionality. However, such projects can also be expensive and time-consuming. It’s important to weigh the pros and cons before starting any renovation project.

Common Types of Home Remodels

This Old House notes that one popular type of renovation is a kitchen remodel. This involves updating cabinets, countertops, appliances, and fixtures to create a modernized look with improved functionality. Bathroom remodels are also very common—updating sinks and toilets as well as changing out tile work, tubs, and showers—and can help make your bathroom more inviting while adding value to your home overall.

When Adding On for a Home Office or Multipurpose Room

If you’re looking for more square footage in your home or want to add on a room such as an office or multipurpose room, several considerations need to be taken into account first. First and foremost is clearly defining what outcome you’re hoping for from the remodel; this will help you better plan out the project timeline and budget appropriately. You may also need to apply for home improvement loans if the project costs exceed what you have saved up or set aside for renovations.

Connect With Reputable Contractors

Once you’ve established your desired outcome, it’s time to connect with reputable contractors who can help bring your vision to life—while staying within budget! Make sure that any contractors you hire have valid licenses and insurance to protect themselves legally should something go wrong during the renovation process. Additionally, budgeting carefully before beginning any project will ensure that there aren’t any surprises along the way (especially when it comes time for payment). Finally, setting clear expectations with a timeline and schedule will ensure that everyone involved knows what is expected from them throughout each stage of the project.

Apply for a Home Loan

Home renovations often require significant resources, and home improvement loans can help you finance these important investments. Application for home improvement loans can provide you with access to funds that can be used to finance home repairs, alterations, or additions like a new roof, fresh paint job, or landscaping. Whether you’re a property investor or manager looking to make repairs or sell property, home improvement loans can help cover the costs of home renovation projects and make them much more manageable.

Understand Estimating Apps/Software Contractors Use

For larger projects such as kitchen remodels or room additions, contractors use construction takeoff software and estimating software, which helps track costs associated with materials used in addition labor costs associated with each job task being performed by subcontractors hired by general contractors working on large-scale projects. Knowing what kind of apps/software contractors use will help homeowners determine exactly how much their project will cost before having any work done so they can plan accordingly. As an investor or property manager, you may consider this range of software and apps to gauge the costs and timelines of projects.

Invest in a Home Warranty for the Finished Product

Once all of your hard work has been completed, US News & World Report points out that you should advise new homeowners to invest in some sort of warranty that covers both labor costs as well as materials used in case anything goes wrong after all construction tasks have been completed. Having this extra protection provides peace of mind knowing everything was done correctly with quality products installed throughout each part of the renovation process.

In conclusion, this renovation project was a success due to careful planning and execution. By understanding the basics of home renovations – such as costs and budgeting, as well as which apps contractors use for estimates and material sourcing – anyone can successfully renovate their home on their terms.

Utility Junction offers the most user-friendly platform for utility bill management, expense tracking and hassle-free utility service transfer. Contact us today to learn more! 844-281-1312 or 1-800-961-0424

What is a utility concierge and what it’s not

October 25, 2022 by Carolina Narvaez

Who uses a utility concierge and for what purpose? A homeowner, common businesses and real estate companies that manage multiple homes, basically everybody at some point.

Why? Because it’s easier, safer, and it’s cost effective mainly for real estate investors, and property managers.

A utility concierge will meet with you to discuss the services you need, and help you find the best provider for you. A utility concierge can help you connect water, electricity, cable, or any other utility. However, most of them only provide water and electricity options.

Connecting utilities through a third party avoids the company spending time and money in the shape of manpower hours, delays and overpayment because of a bad rate. Those numbers become even more important when we’re talking about a property portfolio of more than 100 properties.

utility management for real estate companies

Then, what is it not a utility concierge?

It’s not a company that focuses on bringing the client savings in time and money to help them reduce costs in the ROI.

It’s not a company that streamlines a part of operations for real estate investors and property management companies.

It’s not a company that goes beyond connecting utilities, to also provide the option to track and analyze utility expenses and make utility bill payments for the recently connected utilities.

So is Utility Junction a utility concierge company? We go far and beyond that for our clients. Your company can rely on us for all utility management services.

Did you know that real estate investors and property managers can save thousands of dollars in time and money by outsourcing their utility management to a third party?

If not, we’re here to tell you: It’s true!

When the company starts to scale is when issues start to arise, because as the property volume increases, you need to track more details about the bills and properties, more spreadsheets are created and more connections and disconnections are requested in a not so friendly and tedious process that involves dealing for long hours with utility providers. Furthermore, some billing is received via paper bills and others via e-bills or paperless bills, which makes it harder to have full control of the due dates, amounts to pay, and bills to pay.

We bring Real estate investors and property management companies savings in time and money like no other company can do.

If you are interested in learning more about our services, visit our website or get in touch with us. We can help you save time and money with our utility consultancy services.

Need utility management services for multiple properties? Schedule a demo with us to receive a custom quote that fits your service requirements.

How Utility Junction Is Better For You Than A Utility Concierge

September 16, 2022 by Carolina Narvaez

When you need to connect utilities at your home, business or multiple homes; if you’re a real estate company; there are a lot of options out there. Some are more reputable than others, and some can be confusing.

In this situation, getting assistance is a great option to make this process easier and safer. A utility concierge comes in handy here. They will meet with you to discuss the services you need, and help you find the best provider for you. Utility Junction does that too!

If you’re here you might be wondering what is the difference between Utility Junction and a utility concierge company.

Utility Junction offers a complete utility management solution. Providing the same services you’d expect from a utility concierge, but with one major difference: we focus on you, not the provider. This means that when you sign up with us, we will give you the best possible deal based on your requirements and needs.

As an additional service to our clients, we offer a bigger time and money saving service that includes utility expense tracking & analysis, and utility bill payments for recently connected utilities. With the option of doing it yourself through our dashboard or allowing us to manage utilities for you.

If you only wish to track your existing utilities and do not wish to connect your utilities with us, you can still sign up for our dashboard account and begin your savings journey.

If you are interested in learning more about our services, visit our website or get in touch with us. We can help you save time and money with our utility consultancy services.
Need utility management services for multiple properties? Schedule a demo with us to receive a custom quote that fits your service requirements.

How To Enroll In Utilities Software Consultancy Services

July 7, 2022 by Carolina Narvaez

Are you always behind your utility dues because of your busy schedule? Worry no more for Utility Junction is here to save the day! Utility Junction provides service not only to Homeowners, but also to Property Managers & Landlords, Wholesalers, Investors, Enterprises, and iBuyers. UJ can help you manage home utilities, avoid overpayment, and help you save money! If you’re wondering what Utility Management is, let us give you a little background. The goal of utility management is to determine how various energy, waste, and water metrics affect your organization’s performance. You may be able to reduce costs by monitoring your residents’; and your property’s energy use and identifying waste or problems quickly.

Here is how you can get a glimpse of what Utility Junction has to offer. You can request for a demo and see what fits your needs.

1. Go to their website: https://utilityjunction.com/

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Just click the link and it will redirect you to UJ’s page. Once you are there, you will be able to see the Features, Pricing, and details about the software. You can also sign up for a free demo to get a deeper understanding of how it works.

2. Request for a Demo

On the home page, you will see a “Request Demo” button. Just click that button and it will redirect you to a page where you can put your details and arrange an appointment with the Utility Junction team at your earliest convenience. They will give you a tour on the software and how to navigate it.

3. What you can see on the Dashboard:

Now, we are at the most exciting part. Here is a glimpse of the interface of Utility Junction:

Summary Page:

On the summary page you will be able to see the Property Details such as Address and Property Information. You can upload files which contain the data of your bills. If you are more of a visual person, there are charts wherein you can see the changes of your bills by month and track your spending trend. You can also list several properties especially if you are a property manager.
Want to know more? REQUEST A DEMO now and you never have to encounter problems in paying your utility bills!

How to Avoid Paying Utility Bills After a Property has Been Sold

June 3, 2022 by Carolina Narvaez

Imagine this:

You’re a Property Investor, Cash Buyer, iBuyer, Home Flipper, or a Property Development Company. In general, a company that has a portfolio of properties and that is constantly buying and selling. Furthermore, you manage utilities for your portfolio in-house.

It’s all going well, the business is growing and this happens:

The company’s accounts payable department discovered that utility bills were being paid for a house whose status is SOLD.

So, what happened?

Let’s see this first scenario: you have some of the utilities of your portfolio on autopay, which means that it is till you check the accounts that you realize that the numbers don’t match. What could be happening?

You realize that your company has been paying for a property that you recognize but something seems odd because you thought it had already been sold.

Between the things that could have happened, you might think “whose fault is this?”

Here’s the thing, humans are certainly not perfect and in the beginning, utility bill management probably seems annoying but not hard, and with a controllable amount of spreadsheets, it’s no big deal, right?

Home buyer in scale, tips for cash buyers, Successful property investment company, utility bill management, late fees, billing management company, utility bill management solutions, avoid late fees

To make it easier for your team, let’s say you set up some of the bills on autopay. However, even if you hadn’t done that, it was always a possibility that a mistake like paying bills for a sold property, would happen. It happened to some of our clients. Believe us, it’s more common than you think.

if you’re a glass-half-full type of person, you’ll see that this is almost a good problem to have because it means you’re scaling. Congratulations if this is your case! The other good news is that you’re not alone, and there are solutions that can help with this kind of problem.

Home buyer in scale, tips for cash buyers, Successful property investment company, utility bill management

How to avoid paying for a sold property:

Centralize your billing data. Instead of using multiple spreadsheets, organize all data in one spot. If you want to streamline the utility bill process, consider a utility bill management software.
Monitor periodically the accounts on autopay. Or have a third party do it for you.
Improve communication between teams. See if the communication channels are working. Centralizing data is a way to solve this issue too.
Get advice from an expert in utility bill management to determine the best strategy for your company.
Outsource utility bill management. Trust the experts and harness the power of technology, while being able to access reports on consumption and costs.

These solutions are proven to save time and money for real estate companies. If you’re ever looking to reduce the burden of manual utility bill tracking, our platform can help achieve 95% SLA.

Utility Junction is a solution that can help any business in the field of real estate to simplify utility & bill management processes. This platform can reduce the amount of time & money spent on administrative tasks and provide an infrastructure for analyzing financial data for both individual property and multi-property organizations.

Get a quick overview of all your portfolio’s utility accounts, keep track of payments and expenses, transfer services painlessly and remotely, get bill due date reminders, and more. Utility Junction’s platform is the only solution you’ll ever need to manage your utility needs end to end. So, let’s connect for a discovery call & we can discuss the challenges you are facing in your operations. Know exactly what you need, contact us here or send us an email at support@utilityjunction.com

An Example of How Spreadsheets Hurt Productivity in Business

April 25, 2022 by Carolina Narvaez

Utility Management has long been a necessity for businesses and even households. Today, the digitalization of Utility Management has taken the world by storm. Not only businesses and households are relying on it – but individuals are too.

Are you tracking your utility bills with spreadsheets? It’s an easy solution that works fine for a small number of items, but practicality and efficiency start to fall apart as the number of utilities you have grows.

The use of spreadsheets to track utility and other utility bills can become a real nightmare. Oftentimes, data gets lost or misplaced between numerous tabs, and there’s no easy way to export the data into useful formats. With online platforms available to help you do just that.

We have been able to recollect some examples of situations that real estate companies face based on interactions we’ve had with our clients & working with them closely.

Cases in which spreadsheets were ineffective:

Have you ever experienced a situation whereby a member of your operations team was trying to figure out why a utility at home was disconnected? As it turns out, the payment slipped through the cracks and was missed. A past due balance led to service being disconnected.

Imagine another scenario, where you need to set up services for a property with the service provider. Almost 45 minutes later, you are told the service set-up cannot be completed as there are past due balances that need to be paid. Spreadsheets as a means of tracking your utility and other costs is not the right approach.

Some disadvantages spreadsheets may have for a growing real estate business:

A decentralized utility bill pay process causes confusion in managing hundreds of utility accounts. Leaving you with questions like: Were the bills paid?
The billing data is entered into the spreadsheet and then re-entered into the company’s A/P system so that payment can be made. Consequently, each utility bill is handled twice (sometimes even three times). It is a time-consuming and error-prone process.
The spreadsheet-based method does not allow easy comparisons between bills to determine if the company has been overcharged or to identify meter or billing issues.

The solution that has been proven to help real estate company streamline their process is centralized utility bill data.

Get a quick overview of all your portfolio’s utility accounts, keep track of payments and expenses, transfer services painlessly and remotely, get bill due date reminders, and more.

Utility Junction’s platform is the only solution you’ll ever need to manage your utility needs end to end. So, let’s connect for a discovery call & we can discuss the challenges you are facing in your operations. Know exactly what you need, contact us here or send us an email at support@utilityjunction.com

Gas, Electricity & Water Bill Tracking & Management Without Using A Spreadsheet

April 11, 2022 by Carolina Narvaez

Ever wonder if there’s a better way to keep track of your utility bills?

Spreadsheets aren’t the most efficient method for managing multiple bill due dates and amounts, and it can be hard to pay bills on time with so many other things going on. That’s where Utility Junction comes in. Our complete Utility Bill Management solution allows you to track all your basic utilities in one place – electricity, water, gas, sewage, and trash, etc – so you can stay organized. And with our Analytics Dashboard, you get access to all the features you need to:

Track bills and make sure they’re paid on time.

utility bill management, bills, electricity, water, gas, utilities, utility provider

What features will help you accomplish efficiency?

Bill addition reminders.
Bill due date reminders.
Pending bills summary notification at the end of the month, and at the beginning of the following month.
Pay my bills section
My properties section
And more

Utility Junction has helped customers like you:

Track their utilities in one place
Pay their utilities on time
Get organized
Analyze their utility expenses
Make sure the process of transferring their utilities is taken off their plate

So what happens when there is a change?

For example, when you move into a new house or apartment, you have to transfer your utilities to your name. Not a big deal, right? But it is for most people! Finding out if these services are available and how much they cost can be a hassle.

If your company deals with connecting and disconnecting utilities because you are a property manager, an iBuyer or a property investment company, you know the struggle firsthand. But you still do it because customer experience defines your success, right? And it does, but this doesn’t have to give you a hard time either.
Utility Junction makes sure that the hassle of transferring the utility services is taken off your to-do list. We manage it efficiently and smoothly for you.

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We are passionate about helping companies like yours save time and money through efficient utility management.
Let’s connect for a discovery call & we can discuss the challenges you are facing in your operations.
Contact us here or send us an email at support@utilityjunction.com

Surefire Ways to Lower Your Energy Bills in the Winter Months

March 1, 2022 by Carolina Narvaez

By Katie Conroy of advicemine.com.

When the temperature drops, the electricity bill often rises accordingly. Those chilly winter months can make it a real challenge when it comes to staying warm in your house, and most years, the energy bill reflects all that extra effort you have to put into keeping yourself and your family comfortable. At a certain point, however, it might be smart to start looking into ways you can lessen the amount of energy your home consumes so that you can save money on those bills each month.

You might even be surprised at some of the simple ways that you can easily shave dollars and cents off your energy bill. There are tons of strategies that can help you save money, from improving certain parts of your home to swapping out your old thermostat and/or furnace for ones that might be a bit more modern and energy-efficient.

Courtesy of Utility Junction, check out a few top strategies for saving money on your energy bill this coming winter…and perhaps even for years to come!

Consider Getting a New Furnace

Many homeowners might not realize that their outmoded appliances can seriously run up those energy bills. Getting yourself a new furnace — something of a major project — can be a seriously effective way of reducing your energy consumption and the bills that reflect it, especially in the long run.

A new furnace, in many instances, can cost you quite a bit of money depending on which type of unit you select. There are also labor costs to consider, of course; sometimes, this can account for a substantial amount of the total budget. You’ll want to look online to find the best contractor in your area who can get the job done. Someone who specializes in HVAC systems is probably going to get you the best results for a new furnace installation.

Something else to remember: certain home improvements, like investing in a new furnace, can also increase your home’s appraisal value. Just make sure you’re keeping and carefully organizing all those receipts!

Give Your Home a Spot Check

One of the things that can seriously impact your energy bill is the presence of things like cracks (especially in windows, though you’ll need to hire someone to replace window glass for you), intrusions, or gaps in places that should normally be sealed in your home. During the warmer months, these things might be easy to ignore, but they can contribute to a pretty expensive problem when it starts to get cold out. If you need home window repair, costs average $290 per window depending on the repair and window type. When working with window repair contractors, insist that they’re licensed and insured.

Another great way to lower the utility bills in your home is by finding small ways to reduce your overall energy consumption. Replacing standard light bulbs with LEDs, for example, is one great way to lower your bills.

Look into a Thermostat Upgrade

There are many smart thermostat options available now, and this type of upgrade is a great way to save money on utilities. A smart thermostat monitors your patterns throughout the day to learn the best times to increase and reduce temperature, thus ensuring your comfort at the ideal time as well as energy efficiency. Best of all, you can remotely control these thermostats from your smartphone or even via your home’s voice assistant.

There are plenty of ways to reduce your energy consumption and the bills that come along with it, especially as the weather starts to get colder. While this is normally a time of year that incurs extra costs, these strategies will help you save money and enjoy a comfortable living space at the same time, most likely for years to come.

The mission of Utility Junction is to simplify every aspect of your utilities from the moment you get in touch. With us by your side, it is that simple. Call 888-782-7885.

Need help with utility management? Send us an email at support@utilityjunction.com or reach out to us on any of our social media handles.

Locking In: Buying Your First Investment Property

February 11, 2022 by Carolina Narvaez

By Katie Conroy of advicemine.com.

In 2019, it was revealed that real estate had emerged as America’s favorite type of investment. With millions flocking to brick and mortar as a means to grow wealth, you’ll need to research thoroughly and act quickly if you want a high-potential property of your own.

Finding a Property

Unlike buying a property for occupancy, your reasons for buying an investment property are more likely to come down to monetary factors such as appreciation, rentability, or re-sellability. It’s important when looking at a location, to pay extra attention to its commercial appeal and demography – if you’re looking to rent the place out, you’ll want to find somewhere populous, with a good class of tenant, for example. Generally speaking, a property that can produce monthly rent equivalent to 2% of the purchase price is likely to produce a positive cash flow for the investor.

You’re buying a property to make money but, if done properly, the process should also involve spending some (on top of the purchase itself). Appraisers can help you to identify the objective value of a property and bypass much of the misleading information surrounding real estate, a buyer’s agent (realtor) will act as a source of knowledge, providing suggestions & narrowing down your options and it’s often worth enlisting the help of a home inspector to check structural integrity, plumbing and electricity before you proceed onto the buying stage.

Purchasing

When buying an investment property, it’s important to consider the added costs of property management before you enter into the buying process. Try to consider any added fees that might be spent on landscaping expenses, homeowner association fees, 3rd party property managers, or general maintenance.

If you’re held back by costs, you’ll find plenty of help from loan providers – private lenders often provide more flexible terms than conventional mortgage lenders when it comes to investment properties. Be aware, in comparison to loans for a personal residence, you are likely to pay a larger down payment with percentages around the 20-35% mark. An SBA 504 loan, for example, is perfect for commercial property purchases – with lower interest rates and up to 25 years in repayment terms.

Managing

You’ve found and bought a high-prospect investment property, congratulations! Now’s when the hard work starts. More often than not, an investment property will require renovation to increase its value, this is especially the point of a fixer-upper. If you’re in an area with high competition for renters, it could be worth considering some changes to improve the curb appeal – a new fence for the yard, for example, costs $4,500 on average (depending on materials, size of the fence, and place of installation). Be sure to use a platform like Angi to search for an ‘affordable fence company near me’ to receive a quote, then read online reviews and check for licenses before hiring any contractors.

If you’re taking in new tenants, it’s vital that you read up on your responsibilities as a landlord. Your property is much like a business and will require a few hours per week (minimum) for administration, comms, and maintenance. Unless you want to fork out for a property manager, you should be ready to spend money on repairs, replacements, and time on screening/maintaining tenants.

Properties often prove to be truly lucrative investments but, if you want to earn from them, you should expect to put in some hard work, or pay for the work of others. There’s plenty of competition on the market and landlords who have invested time (as well as money) are the most likely to profit.

Utility Junction is a utility management service on a mission to build utility connections, help you track utility expenses and expense analysis. Learn more about our unique services, at: www.utilityjunction.com

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Need help with utility management? Send us an email at support@utilityjunction.com or reach out to us on any of our social media handles.