Utility Overage Limits per Property and Guidelines for Reimbursement
Utilities Overages:
Landlords and Property Managers are 100% responsible for managing and paying utilities. However, there is utility guarantee protection to ensure tenants do not abuse utilities at the property. For properties with 3 bedrooms, if the combined utility expense exceeds $300.00 in a given month, the owner can be reimbursed for the overage beyond $300. Please be advised, this calculation does not include internet*.
To begin the review process and request reimbursement, please email the Alcove Landlord Partnership Team at partner@alcoverooms.com. Make sure to attach copies of the relevant service provider invoices for the months in question. Upon receiving your request, Alcove will review the submissions and, once verified, will issue invoices to the tenants while addressing any inquiries related to payments.
If there are property-related issues, such as water leaks that lead to utility overages, Alcove may first ask that these issues be resolved and that reimbursement be sought from the utility company.
Example Case:
For example, if combined utility expenses (sewer, water, gas, and electric) for the month totaled $375.00, you would submit all utility bills to partner@alcoverooms.com, once reviewed Alcove would then issue you a reimbursement of $75.00 to your ledger. Utility bills must include the dates of service in order to be eligible for reimbursement. These thresholds apply regardless of the occupancy of bedrooms. See further utility policy details below:
Utility Reimbursement Threshold (Water, Electricity, Gas, Sewer):
-Properties with 2 bedrooms or less: $200.00
-Properties with 3 bedrooms: $300.00
-Properties with 4 bedrooms: $400.00
-Properties with 5 bedrooms: $500.00
-Properties with 6 bedrooms: $600.00
*Costs not included in utility reimbursement calculation
Some costs are excluded from the utility reimbursement calculation, see below:
Internet Costs:
The cost of internet is not included in the utility overage and reimbursement policy for the following reasons:- Fixed and Predictable Costs: Internet costs remain consistent from month to month, regardless of usage. This stability ensures that landlords are not subject to fluctuations in internet bills, creating a predictable and reliable monthly expense as opposed to electricity or water utility usage.
- Customization and Flexibility: Internet prices can vary significantly based on factors such as the ISP (internet service provider), services offered, connection speed (min. 300mbps), and the number of accounts connected. Landlords have the freedom to select and manage internet services according to their specific preferences and the unique needs of their properties. This flexibility empowers landlords to make decisions that align with their overall strategy without transferring the costs directly to the tenants.
Stormwater Fees:
Alcove does not include stormwater fees in the utility overage and reimbursement policy as Stormwater fees are not calculated based on usage. Stormwater utility fees are based on the total amount of impervious surface on an individual lot or parcel.
If you have questions or require additional information, please don't hesitate to reach out to our Partner Support Team.