Along with the benefits, managing a residential property comes with challenges and responsibilities. Read on for a handy guide to three of the most common problems Housing Providers face and how to handle them without alienating your Residents.
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Livable Content Team
In summer, water usage can account for as much as 50% or more of your monthly utility bill, depending on where you live. Learning how to conserve water during the hottest months not only can save you money, but it’s good for the planet. It’s doubly important to think about ways to save on water this summer.
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.
As temperatures continue to rise, staying cool this summer means an increase on your utility bills. While the rising heat impacts financial and environmental factors, there are habits you and your Residents can apply to your daily summer living to reduce those financial and environmental impacts. By following these simple summer energy-saving tips, you and your Residents can keep the temperature, and your budget, well within your comfort zone.
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.
In a world of softening rental markets and rising utilities, utility cost recovery is essential to your bottom line! Even a simple mistake in your billing system can end up costing thousands. Avoid these four common utility billing errors to keep your investments healthy.
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.
