Nexus aims to expertly manage utilities as part of our comprehensive services, ensuring the utmost protection for property owners. Here's a detailed breakdown of how we handle utilities:
Utility Management Overview:
Property-based Utilities: It's imperative to understand that utilities such as Water, Sewer, and Garbage remain under the property owner's name. This is because these utilities are directly linked to the property tax ID number of your home. If these bills are left unpaid, the city or municipality can impose a lien on your home. Consequently, to safeguard your interests, we always ensure these utilities are never transferred to the resident's name. This prevents a situation where, if a resident fails to pay the utility bill on time, the city might enforce a lien on your property, leaving the tenant without any repercussions.
Bill Transparency: Once we receive the physical utility bill, it's promptly scanned and uploaded to the dedicated 'Bills' section within both the Owner and Resident Portals. This process fosters transparency, allowing both parties to view the actual invoices.
Timely Payments: Nexus is committed to making prompt and complete payments on your behalf, ensuring that your account remains in impeccable standing.
Cost Recovery: After settling the utility payments, Nexus ensures that any utility costs attributable to the resident are recouped in the subsequent month's rent.
Furthermore, it's important to highlight that cities and municipalities generally issue bills with a lag of around 25-30 days. Nexus subsequently engages in cost recovery for those charges roughly 15 days afterward. This means that the entire billing and recovery cycle for a city or municipality bill spans approximately 45 days.
*** A crucial note for new leases: In the initial 45 days of a lease, there wouldn't be any utility charges. However, once a resident vacates, a collection of utilities will be executed 45 days post their departure.
I hope this provides clarity. If any aspect remains unclear or if you've got additional questions, I'd be more than happy to schedule a call to discuss this further.
