What is Ratio Utility Billing System (RUBS) and How Multifamily Syndicators Can Leverage It
04/24/23 • 9 min
In this podcast, we'll be discussing what is Ratio Utility Billing System, or RUBS for short.
RUBS is a method used by some landlords and property managers to allocate utility costs among tenants in multi-unit buildings, such as apartments or condos. Instead of installing separate utility meters for each unit, the landlord can estimate each unit's share of the overall utility bill based on various factors, such as square footage, number of occupants, or some other formula.
The landlord then bills each tenant for their share of the utility costs, which can include water, gas, electricity, or other services. The amount billed to each tenant is proportional to their estimated usage, hence the term "ratio" utility billing.
RUBS can have advantages for both landlords and tenants. For landlords, it can reduce the cost and hassle of installing and maintaining separate meters for each unit. It can also provide an incentive for tenants to conserve energy or water, since they are paying for their own usage. For tenants, RUBS can offer a simpler and more predictable way of paying for utilities, since the billing is based on a fixed formula rather than actual meter readings.
However, RUBS can also have some drawbacks and controversies. Critics argue that it can lead to unfair or inaccurate billing, especially if the estimation formula is flawed or biased. Some tenants may also resent paying for utilities that they feel are outside their control, such as common area lighting or swimming pool heating.
In some jurisdictions, RUBS may be subject to regulations or legal challenges, so it's important to check with local laws and consult with legal or financial experts before implementing this billing method.
That's a brief overview of what is Ratio Utility Billing. If you have any questions or comments, please leave them below and don't forget to like and subscribe to our channel for more informative videos. Thanks for watching!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ We're here to help create multifamily entrepreneurs... Here's how:
Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits
Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply
About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.
Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
#realestateterms #multifamilyterms #RUBSmultifamily #multifamilyenergybilling #multifamilypropertymanagement #multifamilyoperations #ratioutilitybillingsystems #multifamilyinvesting #apartmentinvesing #multifamilysyndication #realestatetrends #investingstrategies
We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
In this podcast, we'll be discussing what is Ratio Utility Billing System, or RUBS for short.
RUBS is a method used by some landlords and property managers to allocate utility costs among tenants in multi-unit buildings, such as apartments or condos. Instead of installing separate utility meters for each unit, the landlord can estimate each unit's share of the overall utility bill based on various factors, such as square footage, number of occupants, or some other formula.
The landlord then bills each tenant for their share of the utility costs, which can include water, gas, electricity, or other services. The amount billed to each tenant is proportional to their estimated usage, hence the term "ratio" utility billing.
RUBS can have advantages for both landlords and tenants. For landlords, it can reduce the cost and hassle of installing and maintaining separate meters for each unit. It can also provide an incentive for tenants to conserve energy or water, since they are paying for their own usage. For tenants, RUBS can offer a simpler and more predictable way of paying for utilities, since the billing is based on a fixed formula rather than actual meter readings.
However, RUBS can also have some drawbacks and controversies. Critics argue that it can lead to unfair or inaccurate billing, especially if the estimation formula is flawed or biased. Some tenants may also resent paying for utilities that they feel are outside their control, such as common area lighting or swimming pool heating.
In some jurisdictions, RUBS may be subject to regulations or legal challenges, so it's important to check with local laws and consult with legal or financial experts before implementing this billing method.
That's a brief overview of what is Ratio Utility Billing. If you have any questions or comments, please leave them below and don't forget to like and subscribe to our channel for more informative videos. Thanks for watching!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ We're here to help create multifamily entrepreneurs... Here's how:
Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits
Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply
About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.
Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
#realestateterms #multifamilyterms #RUBSmultifamily #multifamilyenergybilling #multifamilypropertymanagement #multifamilyoperations #ratioutilitybillingsystems #multifamilyinvesting #apartmentinvesing #multifamilysyndication #realestatetrends #investingstrategies
We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
Previous Episode
Customer Onboarding Secrets: Boost Loyalty & Create Champions with Donna Weber
Donna Weber is the author of "Onboarding Matters" Jake and Gino discuss the importance of customer onboarding , customer retention and apply it to multifamily.
In this episode, you'll discover how customer onboarding can make or break a business, the neuroscience behind building trust, and the power of effective communication. Listen in for actionable steps, horror stories, real-life examples, and insights to improve your customer experience and turn your clients into loyal champions. Don't miss this informative and engaging conversation!
Episode Chapters 00:00 - Intro 00:59 - Donna Weber's Background and onboarding experience 01:53 - Horror Stories of Bad Onboarding 05:18 - Advantage of Communication when Onboarding 10:39 - Neuroscience and Onboarding 11:49 - Adressing Buyer Trepidations from the Beginning 13:06 - After Purchase Remorse and how to Fight it 18:27 - The Six Steps 21:47 - Using The 6 Steps Onboarding in Multifamily 28:13 - Motives Behind Writing "Onbording Matters" 32:37 - Onboarding For Team-members / employees 34:57 - First Steps to Creating the Customer Journey 37:52 - Book Reccomendations from Donna Weber 39:11 - Contact Donna Weber 39:40 - Wrap Up
#onboarding #realestateeducation #customeronboarding
Donna's Book: Onboarding Matters - https://amzn.to/3UWwtZ5 Donna's Contact: https://donnaweber.com
We're here to help create multifamily entrepreneurs... Here's how:
Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits
Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply
About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.
Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
Next Episode
From Ground Up to Growth A Multifamily Investing Journey with Aaron
In this video, Aaron shares his inspiring journey of breaking into the multifamily investing space, overcoming challenges, and building a successful business. Listen in as he discusses the importance of networking, finding the right mentors, and learning from experience. Discover how multifamily investing has not only given Aaron confidence and courage but also allowed him to create a lasting impact on future generations. Don't miss this insightful conversation on the power of perseverance, the snowball effect of success, and the value of jumping in and making it happen.
Chapters: 00:00 - Intro 00:47 - How Did Aaron Smith start out in Real Estate 05:18 - Steps for a Beginner Getting into Multifamily 07:53 - Gino Recaps Steps Aaron Took and Lessons He Learned 09:55 - Using Education to Purchase a 20 Unit Property 12:56 - JakeandGinoSavedMyAss.com 14:20 - What Mistakes Were Made By Aaron Smith on his First Deal? 20:29 - The Benefits of Starting Small 24:10 - How has multifamily changed Aaron's Life? 28:20 - Where Can you Contact Aaron Smith? 28:42 - Wrap Up
Connect with Aaron Smith at [email protected]
We're here to help create multifamily entrepreneurs... Here's how:
Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits
Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply
About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.
Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
#realestateeducation #multifamilyeducation #realestate #howtoinvest #realestateinvesting #realestateinvestingforbeginers #realestateinvesting101
We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/
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