Closed on a property with 2 4plexes and a 6ksqf warehouse friday

Multi-Family and Apartment Investing
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Closed on a property with 2 4plexes and a 6ksqf warehouse friday

Dominique Palmer
Rental Property Investor · New Orleans, LA · Member since 2018 · 87 posts · 45 votes

I'm pretty excited. My partners znd I set a goal at the beginning of the year to purchase an investment property before the year was over and we accomplished that goal friday. There are 3 water meters for the 3 buildings. Besides paying to get individual meters I thought I had read about a way to split up the costs among the tenants. Does anybody know the name of the formula or program that does this?

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  • Terry Vanwhy
    East Stroudsburg, PA · Member since 2017 · 2 posts · 3 votes
    6y

    I believe it's called RUBS(Ratio Utility Billing System).  Definition: A method of calculating a tenants utility usage based on occupancy, unit square footage, or a combination of both.  Once calculated, the amount is billed back to the tenant.  

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  • Dominique Palmer
    OP
    Rental Property Investor · New Orleans, LA · Member since 2018 · 87 posts · 45 votes
    6y

    Thanks @Terry Vanwhy I heard the term before but couldnt remember it when trying to tell my partners avout it.

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  • Cristobal G.Pro Member
    Kalamazoo, MI · Member since 2017 · 26 posts · 12 votes
    6y

    Yup it's RUBS, it's what I use because I found individual metering for small units not practicable. 

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