RUBS vs Sub-Metering Lakewood, OH (Cleveland)

[Trey Eaton]

Hi all, 

I recently purchased my first small apartment building (11Units) in Lakewood, OH. The utilities (water, rubbish removal, boiler gas, domestic gas, and common area lighting) are paid by owner. The electricity in each unit is paid by the tenant.  This winter has been extremely cold and has driven my utility costs higher than I anticipated.  I want to know what people are doing to lower their utility expenses for small apartment buildings.

I have been researching Ratio Utility Billing (RUBS) and Sub-Metering as possible options to lower my cost burden.

Please let me know what you guys are doing.

Thank you, 

Trey 

[Joel Owens]

My friends that own over 100 unit buildings tell me about 80% pay on time with bill back, 10% pay late with collections on them, the other 10% do not pay the water bill and you have to decide to evict or just take the loss overall figured into your numbers.

I can't stand landlord paid utility. I would buy a lower cap for a better area and no landlord utility.

Just remember if it is NOT COMMON for the area to separate out utility then you will waste your money. Example if 15 buildings in a 2 miles radius but all include utility in rents then the tenants will leave your place if you try to stick it on them.

So I research the area before considering buying or not.