Latest stories on cost-recovery

Unlocking Efficiency: The Role of Ratio Billing for Accessory Dwelling Units

Posted by Livable Content Team on Feb 7, 2024 9:46:27 AM

As the demand for housing intensifies and urban spaces become more constrained, innovative housing solutions are gaining traction. Accessory Dwelling Units (ADUs) have emerged as a practical and sustainable approach to address housing challenges while making the most of available space to create small, affordable housing opportunities. But with the inclusion of ADUs on a property comes the challenge of fairly recovering utility costs. Ratio Utility Billing is the answer!  Read on to learn more about how you can make the most of this revenue-generating opportunity. 

The Unsustainable Squeeze: Reclaiming Control of Utility Costs in an Era of Rising Prices

Posted by Livable Content Team on Jan 29, 2024 1:45:31 PM

For many Housing Providers, offering "utilities included" rent packages was once a competitive advantage, attracting Residents with the allure of predictable monthly costs. However, in today's economic climate, this seemingly convenient practice can quickly devolve into a financial tightrope walk. 

Nationwide, utility bills are soaring at an alarming rate, outpacing the ability of Housing Providers to adjust rents in accordance with these rising costs. That includes water, sewer and trash bills, especially in places affected by drought and aging water system infrastructure. This discrepancy is particularly acute in jurisdictions with rent control measures, leaving Housing Providers caught in a vice of escalating expenses and limited revenue streams. But there is a light at the end of that particular tunnel.

Resolve to Save in 2024

Posted by Livable Content Team on Jan 2, 2024 10:40:47 AM

2024 is here! Whether or not you set resolutions, it's natural to look for ways to improve your business at the beginning of a new year. This is a great time to think about building and bettering your properties for the sake of your business growth and development. The health of your business is everything. You can't serve Residents and protect your investments without a healthy bottom line. 

Follow These Collection Policies to Help You Get What's Owed

Posted by Livable Content Team on Feb 16, 2023 7:25:04 AM

As a Housing Provider, one of the most fundamental responsibilities you have is collecting rent, and in some cases, utility payments from your Residents. Unfortunately, it is not uncommon to have Residents who fall behind on their payments for rent and utilities, leaving you to navigate the difficult and often uncomfortable process of collecting those outstanding bills

We know that Housing Providers like you want positive and professional relationships with your Residents.  Unfortunately, those relationships can become strained when it comes to managing late payments. We’ve already talked about best billing practices, but even the best systems and efforts can’t prevent late payments sometimes. To help you maintain positive relationships with your Residents, follow these best practices when dealing with delinquent payments, whether on rent or utilities, to maximize your cost recovery. 

White House Rental Rights Proposal: An Approach to the Affordable Housing Crisis, Controversy Included

Posted by Livable Content Team on Jan 30, 2023 1:06:42 PM

“At Livable, we want to keep residents and property owners up to date on issues that impact everyone in the rental market. We sympathize with tenants having financial issues, especially in the current inflationary climate. But we also recognize that housing providers are investors. Livable helps protect the health of those investments while educating residents on conservation, which saves everyone money and helps the planet.” - Livable CEO Daniel Sharabi

Make RUBS Part of Your Long-term Financial Investment Health Strategy

Posted by Livable Content Team on Jan 29, 2023 7:48:00 AM

AdobeStock_399081787With utility costs continuing to climb while rents and unit demand are dropping, the best way to  improve your bottom line is to implement a ratio utility billing system (RUBS), an inexpensive and easy way to make tenants financially responsible for their usage and incentivize conservation. 

Have a Happier Financial New Year Through Conservation

Posted by Livable Content Team on Jan 5, 2023 7:02:55 AM

2023 is here! Whether or not you set resolutions, it's natural to look for ways to improve your business at the beginning of a new year. This is a great time to think about building and bettering your properties for the sake of your business growth and development. The health of your business is everything. You can't serve tenants without a healthy bottom line.

4 Common Utility Billing Mistakes That Hurt Your Bottom Line

Posted by Livable Content Team on Apr 11, 2022 7:00:00 AM

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.

Monthly-tip

Smart saver tip of the month

Insulating water pipes is a quick and inexpensive way to lower water-heating costs. The easy upgrade reduces heat loss and allows you to lower your buildings’ water temperature setting by two to four degrees. Plus, since water doesn’t take as long to heat up, less of this precious resource is wasted waiting for faucets and showers to get to the appropriate temperature.

On smaller buildings, this is a definite DIY job that should take less than a day to complete. Check out the U.S. Department of Energy’s website for a comprehensive shopping list and step-by-step instructions.