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Net Operating Income, or NOI, is one of the most important numbers in multifamily. It affects property value, refinancing options, and long-term returns. Yet one of the most direct ways to influence NOI is often treated as background admin work.

Utility billing.

For many property managers and rental owners, utilities feel fixed and unavoidable. The bills arrive. You pay them. End of story. But how utilities are billed, tracked, and communicated can quietly increase or erode NOI every single month.

This article breaks it down in simple terms. No finance jargon. No sales pitch. Just a clear explanation of how utility billing actually impacts NOI, and why it matters more than most owners realize.

 👉 Download the full 2026 Utility Outlook to see how your markets are trending

Most property managers are laser-focused on occupancy, rent growth, and expense control.
But there is one category quietly draining NOI year after year: utilities.

Not because rates are high. Not because residents are using too much water.

Because the billing strategy is either missing, manual, or mismanaged.

If you manage multifamily properties, here are five common ways revenue slips through the cracks and what those missed dollars can actually cost you over five years.

 👉 Download the full 2026 Utility Outlook to see how your markets are trending

Property management fees are getting more attention than ever. Not because fees are new, but because renters, regulators, and owners are demanding clarity around how those fees are charged.

Over the past year, complaints about confusing or unexpected charges have increased across the rental housing industry. In response, regulators are signaling that the old “buried in the fine print” approach no longer works.

This is what the new standard looks like, explained simply.

 👉 Download the full 2026 Utility Outlook to see how your markets are trending

Utility costs have always been part of operating budgets, but heading into 2026, they deserve more attention than they typically get.

Across the U.S., cities and utilities are no longer relying on one-off adjustments or reactive rate changes. Instead, many have adopted planned, multi-year rate increases tied to infrastructure reinvestment, inflation indexing, and long-term capital needs.

Livable’s 2026 Utility Outlook highlights what this shift means for property owners as they finalize budgets and why utilities may play a bigger role in 2026 financial performance than expected.

👉 Download the full 2026 Utility Outlook to see how your markets are trending

Many cities across the U.S. will see big increases in water and sewer costs in 2026. If you manage multifamily properties, these changes can impact your budget in a major way.

Some cities will only see small jumps, but others have already approved large increases—some of the biggest in the country. Here’s what to expect and how you can prepare.

Utility costs are going up in almost every city. Water and sewer bills are rising year after year, and many places already have increases planned for 2026. For property managers and rental owners, this means one thing: your expenses will grow unless you have a plan.

The good news? You can stay ahead and protect your profit with a few simple steps.

Offering Internet as a community amenity is one of the fastest ways to add value for residents and simplify life for your team. With Livable’s Community Internet Billing, you can provide bulk-rate Internet services without managing individual accounts, payments, or service changes.

Livable works directly with your Internet provider to make setup, billing, and resident management simple from start to finish.

Property managers rely on AppFolio every day to simplify accounting, rent collection, and communication with residents. It’s an all-in-one platform designed to make property management easier.

But when it comes to utility billing, many managers still end up juggling spreadsheets, absorbing costs, or spending hours trying to make the numbers work. The good news? There’s an easier way. With Livable’s self-service integration, you can handle utility billing directly inside your AppFolio workflow—no extra software, no complicated add-ons.