Utility costs, especially energy and water, keep rising. As a Housing Provider, you want to recover the costs you can, especially in a market of softening rents. When you can't increase rent to cover those rising utilities, billing Residents for them can help boost your Net Operating Income for a healthier financial pictures. Livable's innovative Ratio Utility Billing System can help!
What is Ratio Billing? (RUBS)
A Ratio Billing System, or RUBS. allows you to recover the costs of utilities that your Residents use, accurately and fairly. Bills are allocated by unit size, amenities and number of Residents. Common area utilities are omitted, so Residents only pay for what THEY use! That allocation process also helps get residents actively engaged with saving on utilities. When Residents become accountable for their usage of power and water, they begin to conserve. And we all know that the cheapest water and energy are the water and energy you don't use!
Whether your property has multiple units varying in size, retail space, and/or common areas, Livable can customize allocation factors and billing frequency for your unique property and accurate billing to each Livable resident.
Ever-Escalating Utilities
Inflation, the war in Ukraine, unprecedented levels of drought and more have combined to keep utility costs rising. Housing Providers like you are affected directly by these increases, so it may become hard to hang on, and tempting to sell, as utilities continue to escalate. Before taking drastic measures, consider utility recovery through Livable!
“One of the easiest ways to mitigate much of the utility burden and help residents be more mindful of their energy consumption is by implementing a Ratio Utility Billing System” - Mark Ventre - Steep Commercial
At Livable we stand behind this claim. For property owners still responsible for paying for their residents’ utility bills the upward trends can be overwhelming.
According to the U.S. Energy Information Administration, all utilities including electric, gas and water rates are rising each year and property owners in many cities contend with aging systems, fewer resources and extreme weather.
Did you know that even buildings with individual meters for gas and electricity often have a master meter for water? This is often the costliest of all utilities and is paid by the owner.
What can you expect to see when you enlist a RUBS specialist?
- Track, analyze, and bill back for many services, including water, sewer, gas, internet and electricity
- Recover up to 90% of water and energy costs
- Get the power to opt to cover more utility costs when economic times are uncertain. This becomes a “goodwill deduction” that residents will appreciate.
Key Points about RUBS:
- Little time to implement -
- No costly submetering system to install.
- Eco-friendly way to hold residents accountable for their utility usage.
It’s Easy to Sign Up
Combat rising utility costs by being proactive and creative. RUBS is an easy way to make residents responsible. We all To learn how simple it is to get started, set up a call with a Livable professional today.
