In the utility billing or utility bill back world, there are two types of billing processes that can be used to bill tenants for energy use; Read Bill Only and Read Bill Collect
Read Bill Collect #
Read Bill Collect is where Vitality takes your utility bill and invoices your tenant on your behalf. The collections are handled through the software. This allows us to track payment history and assess late fees through the software. This also gives tenants access to a payment portal where they are able to view past invoices and pay their bill online.
Payments in this case are either deposited directly into the client bank account via a third party payment processor, such as Stripe or Authorized.Net. In some cases, where A Billing Service Agreement is signed, these reimbursements are sent to the client on a monthly basis via direct deposit or check.
Read Bill Only #
Read Bill Only is where Vitality takes your utility bill and invoies your tenant on your behalf. The collections are handed outside the Vitality platform, usually via an accounting system or a property management software. In these cases, no payment history is tracked within Vitality and late fees and/or collection fees cannont be assessed to the tenant via the Vitality Billing Center.