The acquisition of EBS means that Yardi Utility Billing will be able to offer both submeter calculations and ratio utility billing system (RUBS) calculations. EBS specialises in submeter servicing and meter reading, utility consumption analysis, and the allocation of resident utility usage costs for individual dwellings in master-metered multifamily complexes.
The resulting allocations are then entered into Yardi Utility Billing and used to calculate individual resident utility charges, which are added to each resident’s monthly rent bill.
Terri Dowen, senior vice president of sales at Yardi, said: “We acquired EBS to help satisfy demands in the multifamily real estate market for centralized submetering and RUBS capabilities. EBS has built an excellent reputation over its 28 years in business, and this strategic acquisition capitalizes on the expertise of a well-established and well-respected company.
“We anticipate continuing to serve and expand the existing EBS client base, and we look forward to offering our fully integrated Utility Billing product to them and to Yardi’s other multifamily clients.”
As part of the Yardi Voyager Property Management platform, Yardi Utility Billing leverages the central database to utilize existing resident, unit, occupancy and square footage information to automate the utility billing process. Utility invoices can be scanned and entered using Yardi PAYscan, after which time the utility cost allocations are used to auto-calculate resident utility charges.
The charges are then converged onto a single bill along with the resident’s rent and other charges. The resident can then pay the convergent bill online using Yardi Portal, or by check, which can be processed using Yardi CHECKscan.
Yardi Systems develops real estate investment and property management software.
