More than 6 million Southern California residents will be affected by water restrictions which have taken effect on Wednesday, June 1. That means many of us will have to limit outdoor watering to one day a week. In L.A, it'll be two days a week.
In the last few years, the United States and Canada have experienced some of the hottest summers on record. The ten warmest years on record are 2019, 2016, 2015, 2017, 2018, 2014, 2010, 2013, 2005, 2009, and 1998.
Utility cost recovery is critical to maximizing a multifamily property’s NOI. Non-payments (and late payments) impact cash flow and the homeowner or property manager’s ability to properly budget.
Utility cost-recovery is essential to a property owner’s bottom line, even a simple mistake in your billing system can end up costing thousands. Here are the five most common utility billing errors owners make and how to fix them.
1. USING THE WRONG SUBMETER SUPPLIER
Submeters work by sending out pulses that represent the amount of utility consumed. You must obtain the raw read from the meter in order to determine the true consumption of a unit. To acquire genuine gallon amounts, multiply by the pulse multipliers.
Rent control refers to legislation restricting rental rates in a city or state. The maximum rent that can be charged for a unit and the amount that the rent can be increased per year varies per municipality. Cities use rent control laws to regulate the housing market.
What is a Ratio Utility Billing System? (RUBS)
Simply put, RUBS divides utility bills among residents of a property based on predetermined criteria. A cost-effective solution for property owners to recoup expenditures while also proportionately sharing conservation responsibility with residents in a fair and acceptable manner. Beyond the financial benefits, conserving the Earth's natural resources is in our collective interest.
“Energy costs are getting higher, and the cheapest energy is the energy you don’t use" ~ Paul Pettipas - Thrice Energy Solutions