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Updated about 2 years ago on . Most recent reply

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4
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2
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Steve Yoder
  • Investor
  • Cedarburg, WI
2
Votes |
4
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How can I pass utility costs to the tenants?

Steve Yoder
  • Investor
  • Cedarburg, WI
Posted

In most of my buildings the tenants pay for their own utilities.  However, in one of my multifamily buildings (24 unit) I pay for both the water and heat (gas) which is costing over $55/month/unit.  It isn't cost effective to install individual water meters or individual gas meters.   What have you implemented to have the tenants share the responsibility for water and/or gas usage?  What has or hasn't worked for you? 

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2,614
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2,104
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Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
2,104
Votes |
2,614
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Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
Replied

@Steve Yoder RUBS is the best way, there are local providers that do this, It’s a Ratio Utility Billing System that can put their own meters that read consumption. OR you could simply increase the rent to “account” for that $55

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Engel & Völkers | St. Pete
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