Splitting utility costs between tenants

[Richard Ballard]

Hi all, I’m fairly new here and to real estate, so far bought 3 places one a duplex ready to go and 2 renovations from auction. I’m just about done with he first renovation, its a single family home with an apartment above the garage (that I’m still finishing). My question is there is not a very easy way to split electricity without having a new pole placed for the electric which would be very expensive. Just wondering what others have done in this case? Is there a device that I could hook into the box to measure all the electric used by the apartment and house and then just charge them or should I just eat the electric and push the rent up a little? Thanks for the input! Rich

[Jay Helms]

Look into Ratio Utility Billing System (RUBS) @Richard Ballard & @Jeremy Marek. RUBS is the most cost effective solution to bill back tenants their fair share of usage. As pointed out by @Anthony R., RUBS does need to be supported by your state statutes (most do), but definitely worth looking into.