Water. An essential part of everyday life for people all over the world. But it comes at a cost.
As of 2019, Americans are paying an average of $104.00 per month or $1,250.00 per year for water, and since 2012 water bills have surged 31%, which is outpacing inflation.
There have been no federal regulations to guarantee a person's right to water or water affordability, city water departments often turn to increase rates in order to deal with the lack of resources they have to fix aging systems and make repairs from extreme weather conditions to keep cities safe. For example, between July 2016 - June 2017, Philadelphia experienced 715 water main breaks which caused flooding to approximately 700 neighborhood blocks. Damages and repairs like these are a major factor in the increase in water costs on citizens.
According to a 2017 study done at Michigan State University, water is already unaffordable for 1 out of 10 US households and that’s forecasted to triple to more than 30% within 5 years. That is the current situation we find ourselves in now. Something needs to be done to better manage such a valuable resource.
Here in the Philadelphia region, we are no strangers to the rise of water costs. In 2018 alone, the Philadelphia Water Department proposed a 10.6% increase over 3 years that would raise the typical customer’s bill $7.00 per month by September 2020. In Wilmington, DE a 2020 fiscal budget included a 3.8% rate increase and as of December 2019, The New Jersey American Water Company issued a request that would see water rates rise 12%.
So what can you do to try and offset this extra financial strain? Here at Tern we prioritize solving these problems for your property. We help multi-family properties find cost-effective solutions by using our proprietary water savings calculator. This program can analyze your last 12 months' worth of water bills and allows us to find over-consumption areas and recommend solutions like WaterSense products and Smart Sub-Meters to properly manage the flow of water and isolate leaks.
Schedule a Free Water Consultation call to get started today.