Implementing RUBS in Upstate NY?

[Chris Virgil-Stone]

My partner and I are in the process of evaluating a deal in Upstate NY and see some value add opportunity through RUBS implementation (specifically looking to bill back Water/Sewer, Gas, Electricity). This building is a <25 units. I'm wondering if anyone in the area has had success in doing this. I've ran comps and looked at the competition, it seems in ~70% of buildings Water/Sewer and Gas are not included. In the projections we did a phased out approach that is expected to take up to 13 months- 6 months on notice, 6 months @ 50% and and starting in month 13, utilities will be billed back @ 75%.