CASE STUDY

Nutiliti Delivers a 97% Time Savings for Specialized Property Management

The Challenge

When a tenant moved out, there was a lot of back-and-forth between SPM, the tenant, and all the different utility companies. It went something like this:

  • The tenant moved out, so the tenant had to call all the utility companies and ask them to end their service and take their name off the account. They get back the deposit they gave the provider initially.
  • SPM then had call the utility companies and ask to put all the utility bills in SPM's name until a new resident was found.  SPM was responsible for managing and paying the utility bills until the next tenant moves in.
  • When the new tenant moves in. SPM would need the tenant to to call all the different companies to set up utility accounts in their name and put up utility deposits for each service so SPM wouldn't continue to be charged.
  • After one year of living at SPM's property, the tenant moves out, and would have to call all the utility companies again to end their service and get their name removed from the property and get their deposit back.
  • Then SPM kicks off the lengthy, complicated process again that starts with calling to get all the utilities back in SPM's name.


The Solution

With Nutiliti, all of the utilities are kept in our name, which ensures utilities are always on and there’s not so much back-and-forth. That means tenants receive one bill under the name of “Specialized Property Management ” and SPM isn't involved in setting up accounts or helping the transition between tenants. Nutiliti allows SPM to get back hundreds of dollars per year per home that they were losing through the turning on/off process.


The Results

The result of Nutiliti's seamless integration has been a significant savings in both time and money, which Steve elaborated further on. “What used to take us 80+ hours to reconcile now takes about two.”

Specialized Property Management

Specialized currently has $1.2B in assets under management, and the combined experience of the management team includes the oversight of 23,000 single family homes across the U.S. The firm provides turnkey acquisition of rental homes and comprehensive residential property management for homeowners, investors, and institutional funds, including comprehensive leasing, marketing, screening, maintenance, collections, compliance, asset acquisition and disposition and accounting services.

Location

Dallas, Texas

Portfolio:

Single Family Rental

Accounting Software Integration:

Propertyware

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