Originally posted by @Account Closed:
@Chad Duval Hey Chad ... notice you mentioned that the multifamily utility offered the option of doing collections on your behalf. Would it be better (if possible) to just have the tenants pay you directly (RUBS + rent) so that you have full visibility on who's paying what? This way, you could know first hand if a tenant is going to miss payment on RUBS portion that could trigger their utility getting shut off. I've been researching RUBS myself, since quite a few of the deals I've looked at lately don't have the water sub-metered...so interested in the feedback.
Sansen, totally understand your position. Two things: 1. I'll still be paying the utility companies directly. The RUBS company will handle the billing and collecting from tenants on my behalf. 2. I could have the tenants pay me directly, but I'm trying to outsource as much as possible and cut down on admin costs. The billing and collection is actually paid for by the tenants with their monthly service fee, so I think it's worth it. I've heard other landlords having trouble collecting the utility portion of their bill...