Leaking pipes are the kind of thing that keeps landlords up at night. Not only can they wreak havoc on the plumbing of individual units, but sometimes, they can affect the entire building’s infrastructure.

Landlords in New York City have it tough. By law, landlords are required to pay for their tenants’ water and heating, and in some cases, even pay electricity.

For landlords or managers of multi-tenant properties, the idea of submetering water usage can feel like a headache, especially in older buildings.

Water is a hot commodity.

In New York City, the cost for 100 cubic feet of water is $10.33.

Fun fact: Water costs have increased by 300 percent in New York City since 2000.

Water is the largest expense for building owners in New York today. Not only do landlords need to pay for water that is used, but they also have to pay for water that is wasted. The fact is, leaky faucets and toilets can add tens to hundreds of thousands of dollars to a landlord’s annual bill. In any given a building with 500 toilets, there can be at least 100 leaks a day, which translates into 9 million gallons of wasted water and $120,000+ extra in costs. 

People love the sound of running water.

Be it babbling brooks, cascading waterfalls, or ocean waves, most of us feel relaxed in the presence of running water.

Owning a multi-family building comes with many duties, including maintaining units, managing staff, and tracking expenses. But of all the tasks associated with building ownership, eviction has to be the worst!

Some of life’s greatest pleasures are the simplest.

The invigorating feeling of stepping outside on the first day of your favorite season; the comforting taste of your favorite dish, cooked to perfection; and the enjoyment of catching up with old friends over a cup of (fill in the blank).

The average American family of four uses about 400 gallons of water per day. Water managers of 40 U.S. states, or 80% of the country by region, anticipate water shortages in the coming years.