Utility Allowance Service
Save time and simplify calculations with automatic data collection and expert analysis
Are you the owner of a HUD-assisted or LIHTC property? Are you tired of the time-consuming, costly process of collecting and analyzing tenant data for utility allowance calculations?
Now, there’s a better (and faster) way to handle them.
Our Utility Allowance Service makes compliance with HUD and LIHTC regulations simple and cost-effective.
- Satisfy HUD or LIHTC requirements while reducing the time and effort spent by in-house staff
- Automate utility data collection, ensuring accurate reporting
- Track and benchmark energy and water use even after reporting is complete, giving you a quick and easy way to identify savings opportunities for your portfolio
How our Utility Allowance Service works
We’ve created a way to calculate utility allowances based on actual tenant data (a requirement for HUD-assisted properties and many LIHTC buildings), automatically importing it from your local utility company.
First, we work with you to collect basic information about your buildings and secure tenant consent to access utility data. Then, we take care of the rest, providing you with a final report that is ready to submit to HUD or the relevant LIHTC agency.
Your staff saves hours of work by not having to collect and compile data. Plus, you’ll get full access to the WegoWise platform to track and benchmark utility use and identify savings opportunities.
Why use real tenant data?
In June 2015, HUD published a Notice to clarify the means by which owners and managers may calculate utility allowances for tenants. The Notice (H 2015-04 - Methodology for Completing a Multifamily Housing Utility Analysis) requires owners to collect and analyze real tenant utility data. Using real data to calculate utility allowances provides an accurate and fair estimate of utility usage.
IRS regulations specify the methods by which owners of LIHTC buildings may calculate utility allowances. Among the five methods, LIHTC agencies may permit owners to base their utility allowance calculations on actual tenant data.
What’s included in our Utility Allowance Service?
- We obtain release forms from your tenants and fax them back to utility providers once they’re signed.
- We provide you with the proper reports to submit to HUD or LIHTC. These reports include a cover sheet, summary table of all unit data, and any required backup documentation.
- The WegoWise platform automatically collects actual tenant utility data and calculates the appropriate utility allowances.
- You’ll receive access to the WegoWise platform for each building we calculate utility allowances for. WegoWise helps you automatically track, manage, and analyze your buildings’ energy and water use so you can easily identify additional cost- and energy-savings opportunities.
WegoWise + New Ecology: experts in affordable housing and energy management
Our Utility Allowance Service combines the powerful, easy-to-use energy management capabilities of WegoWise with decades of affordable housing policy experience from the team at New Ecology. Together, we take the time and headache out of utility allowance calculations so you can get back to the business of owning and operating affordable housing.