Submetering Secrets: How To Maximize Multifamily Profits With Kelly Koontz, Ep 106

Welcome to the Journey to Multifamily Millions podcast, where we discuss money matters with real estate experts!
In this episode, we have the pleasure of speaking with Kelly Koontz, President of Submeter Solutions, Inc., based in Kent, WA. Submeter Solutions specializes in selling, servicing, and installing utility meters and submetering systems both locally and nationally.
Kelly shares his incredible journey from the aerospace industry to co-founding a successful submetering business. He delves into the benefits and pitfalls of different utility billing methods, including RUBS (Ratio Utility Billing Systems) and submetering. Kelly highlights the importance of fair billing practices and potential cost savings for multifamily property owners.
Kelly also provides valuable insights into how submeters help in monitoring usage, identifying leaks, and improving water conservation efforts. Tune in to learn essential strategies for managing utility costs effectively in multifamily properties!

Episode Topics

[00:52] Meet our guest, Kelly Koontz
[01:27] Kelly's Background and Career Journey
[05:53] The Evolution of SubMeter Solutions
[07:35] Opportunities for Multifamily Owners
[11:37] Cost-Benefit Analysis of Submetering
[20:59] Common Mistakes in Utility Management
[24:00] What is one red flag every investor should look out for?
[24:37] What is a myth about the real estate business?
[27:29] Connecting with Kelly




Key Takeaways:

🗝️Submetering can lead to substantial utility savings for property owners and tenants.
🗝️The legal restrictions on making a profit from charging tenants for utilities.
🗝️Submeterming is viable and beneficial for properties of all sizes, even duplexes.




Notable Quotes

"Cutting your salary literally more in half and joining your buddy who you've known forever, but have never worked with before, was a big risk." - Kelly Koontz
"The real power of submetering... when you pay for something that you're using, you tend to use less and you take more care of it." - Kelly Koontz
"The business itself has changed, grown over time starting from those meters online to what it is now." - Tim Little
"It's one thing to spend an extra couple of dollars because of a toilet and you have to jiggle the handle, that whole thing." - Tim Little
"I would tell you that the very single biggest influence to lowering the overall bill is having the residents directly pay for it." - Kelly Koontz
"If you can push that cost fairly onto the tenants, there are those common areas where things like electricity for lighting need to be considered." - Tim Little


➡Connect with Kelly Koontz
LinkedIn:   / kelly-koontz-650848  
Website: https://www.submetersolutions.com/
Email: [email protected]
Telephone: (425) 228-6831



➡ Connect with Tim Little:
Linkedin: www.linkedin.com/in/timklittle/
Email: [email protected]
Podcast Website: https://journeytomultifamilymillions....

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