With utility costs ever-rising, the best way to combat these costs is by utilizing a ratio utility billing system (RUBS) an inexpensive and easy way to make tenants financially responsible for their usage and incentivize conservation. At Livable we provide software solutions that do not require an onerous submetering system - we easily, legally and affordably allow owners and property managers to shed much of the expense of ever-escalating utility costs.
At Livable, using RUBS we often hit double-digit decreases in buildings that implement its best-in-field program. For example, in a fully occupied 4-unit building, water and electricity use went down 31% in the first year after implementing a customizable RUBS system.
“With our RUBS program, building residents quickly adopt a conservation culture” Daniel Sharabi - CEO
Livable has seen similar reductions across other property sizes, with even a 300-plus building showing a24% reduction in usage and an 89% recovery rate for the owner. In this case, that meant over $180,000 recovered in just one year of RUBS.
“We always see reduced consumption after RUBS is implemented, that’s true in buildings with four units or 400 units. Since housing providers are able to regain close to 90% of their water and energy costs through RUBS, they can choose to pay a bit more of these utility bills during uncertain economic times. They could then pass along a “goodwill deduction” to help their tenants get back on their feet after a downturn. Simply seeing the costs associated with their consumption can substantially decrease utility use and increase the timeliness of leak reporting” - Daniel Sharabi - CEO
Since 2020 both the job market and many rental markets have begun signs of recovery. Multifamily rents rose by 1.6% in 2021, according to Yardi. Even the more expensive Yardi predicts that rents will actually be higher than 2020 levels by 2025 in San Francisco and San Jose, and in Los Angeles and Seattle by 2023.
Demand will make a comeback, even in the most impacted markets. Owners simply need to stand strong in short-term lows and require that residents be responsible for their own utility use.
“Even in a tough market, RUBS just makes sense over the long run” Daniel Sharabi - CEO
If you’re ready to enroll your building in our RUBS program and start saving, book a call with a Livable professional today.
In California, it is no surprise that air conditioners are a regular appliance in many buildings. Did you know it is important to service your air conditioner? Maintenance such as replacing or cleaning air filters regularly can lower your cooling system’s energy consumption by up to 15%. The first day of spring is the perfect time to clean an air conditioner’s evaporator coil, which should be cleaned annually this will ensure the unit is performing at optimal levels.