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Updated about 5 years ago on . Most recent reply

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25
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7
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Dylan Bard
  • Rental Property Investor
  • Lincoln, NE
7
Votes |
25
Posts

Averaging all bills for complex??!

Dylan Bard
  • Rental Property Investor
  • Lincoln, NE
Posted

Hello!

I am acquiring a 7plex in Aug. I was thinking of paying all the bills. There are 4 electrical boxes with the 7 units (conversion house), I'm not exactly sure which box is for which units. I wanted to pay for everything but mitigate people using too much of the utilities. Can I average out the electrical bill for all 7 and make them pay 1/7 of the bill or... let's say the bill is $700 usually, can I put in the contract that anything over $700 is evenly distributed throughout each unit? If so, how would I put that in the contract?

Most Popular Reply

User Stats

60
Posts
47
Votes
Jessica Bridges
  • Tampa, Fl
47
Votes |
60
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Jessica Bridges
  • Tampa, Fl
Replied

There is a system we use called RUBS which is RUBS or Ratio Utility Billing System is a method of calculating a resident's utility bill based on occupancy, apartment square footage, number of beds, or some combination of factors. It works well for our multifamily unit buildings. The software we use calculates it for us when we input the bill. 

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