RUBS Billing Method
Apartments in Chicago
RUBS, or Ratio Utility Billing System, is the best solution for dividing water usage without the installation of submeters. RUBS requires very little upfront investment since there is no hardware required. If you own multifamily property in Chicago, RUBS is permitted by Illinois law. At this time, the law does not have any restrictions for RUBS. Regulations can change often so it’s important to stay updated with your local county and city policies or partner with NES that has a dedicated compliance department.
What is RUBS Billing?
RUBS uses formulas to allocate utility costs for water/sewer, gas, and electricity. RUBS can be a good alternative when submetering is not a possibility for your property. The most popular use of RUBS is for water, but it is possible to RUBS electric and gas as well depending on state and local laws.
What are the benefits of RUBS?
Often time, older properties do not have the required space to fit a water meter in the utility closets, in which case RUBS would be the best solution. When residents are responsible for their own utility costs, consumption will drop dramatically. Typically we see a 20% decrease in water usage. The residents are now responsible for the utility expense which means the real estate owner will increase their cash flow with their property, thus increasing the resale value dramatically.
How is RUBS is calculated?
RUBS takes into account a few factors. These factors are:
• Occupancy of unit
• Square footage of unit
• Number of Bedrooms & Bathrooms
• Number of water fixtures
What type of real estate other than apartments can utilize RUBS?
All types of real estate can use RUBS. The laws and regulations vary widely depending on the type of real estate, so it’s important to verify first. We provide RUBS services around the United States. Property types include apartment communities, mobile home parks, townhomes, and condominiums. Due to the size and skill of our team, we specialize in properties with 100+ multifamily units.
How important are RUBS regulations in Chicago?
RUBS regulations and requirements are very important to follow to avoid any legal liabilities. Partnering with a RUBS billing company like NES will help you navigate these legal requirements. NES has a dedicated compliance department that monitors regulations every day in order to keep clients compliant.
National Exemption Service (www.Submeter.com) is one of the largest submetering and RUBS billing companies in the USA. We specialize in properties with 100+ multifamily units, we are uniquely suited to handle these large projects efficiently and professionally. National Exemption Service (NES) President & Owner is also a voluntary board member of the Utility Management & Conservation Association which makes him privy to best practices in the industry.
Chicago RUBS Billing Guidelines:
RUBS is allowed by Illinois law
The resident’s lease must mention RUBS
NES is American owned and operated by its founder since 1988. Submetering and RUBS have changed over the years, but our commitment to our clients has not. NES continues to service clients around the country and provide the best service at competitive prices. NES also offers leak detection services and utility expense management for an additional fee.
Do you manage a property with 100 units or more?
Get a free RUBS billing quote and learn how much you could save.
We will contact you within 1 business day.