Anchor Utility (formerly Multifamily Utility Company / Banyan Utility)

Anchor Utility — the site states that Banyan Utility is now Anchor Utility — provides resident utility billing, submetering, and utility expense management for rental communities nationwide. The work is collecting and validating utility data, billing residents, and recovering utility costs that would otherwise sit with the property.

Resident billing can be submetered, ratio-based (RUBS), or convergent, where rent, pet fees, garage fees, and every utility appear on a single monthly statement through an integration with the property's management software and an online portal. Anchor designs, installs, and maintains submetering systems and runs a meter maintenance program so faulty meters are caught. On the expense side it offers utility expense management, invoice auditing, rate and tariff analysis, vacant cost recovery, benchmarking for green loans and California properties, energy audits, and energy procurement.

Collections can stay on site with rent or be handled by Anchor, in which case residents pay by e-bill, autopay, fastpay, phone, or mail. The company reports an average collection rate of 96% using monthly bills, late notices, and reminder calls, with a separate process for the remainder. Its bilingual in-house customer service team answers resident billing questions from 5:00 AM to 6:00 PM Pacific, with an automated system available around the clock.

Anchor was founded in 2007, works from San Diego, California, and has appeared on the Inc. 5000 list of fastest-growing companies six times, including 2019. Per-meter and per-bill rates are quoted rather than published. Because utility billing is regulated state by state, confirm what regulatory compliance support is included for the states a portfolio sits in.