Submetering & RUBS Company in Albuquerque
If you are researching submetering for an apartment or condominium complex in Albuquerque, New Mexico, you are required to follow the laws and regulations the state of New Mexico has established. The New Mexico Statues states that water submetering is allowed, but if a unit is submetered, the resident is entitled to a copy of the apartment’s utility bill. National Exemption Service (NES) will help you navigate these legal requirements and take care of installing and collecting from your residents.
What is Submetering?
Submetering in Albuquerque involves the installation of equipment to measure and bill each unit’s water/sewer, gas, and electric use. Submetering has been used since it was invented in the early 1920’s.
What are the benefits of Submetering?
When a property takes advantage of water submetering, it raises consumer awareness, users work harder to conserve, therefore reducing overall consumption dramatically. We typically see 15-30% water savings and submetering is also instrumental in detecting leaks. The real estate owner is able to save money since the tenants pay for the water they used. Common area water usage can be accurately measured and billed accordingly. The return on the investment is usually seen within 12 months.
What type of real estate can be Submetered?
In Albuquerque, all types of real estate can be submetered. Properties like apartment communities, mobile home parks, townhomes, and condominiums can all be submetered. We serve both new construction and existing properties, those with equipment in place and those requiring equipment. Due to the size and skill of our team, we specialize in properties with 100+ multifamily units.
What is RUBS and how can it help real estate that can’t be metered?
RUBS is an acronym for Ratio Utility Billing System. RUBS uses formulas to allocate utility costs for water/sewer, gas, and electricity when submetering is not an option or if your investment dollars can be better utilized elsewhere. RUBS billing is legal in Albuquerque, New Mexico but the landlord must provide RUBS calculations if requested by the resident. NES has a variety of RUB options to choose from and our team will outline them in accordance with your goals.
How important are Submetering regulations in Albuquerque?
Submetering regulations are very important. The laws and regulations regarding submetering multi-family properties change frequently. If you plan on Submetering your own real estate, we highly recommend staying up to date with the latest regulations.
National Exemption Service (www.Submeter.com) is one of the largest Submetering companies in the USA. We specialize in properties with 100+ multifamily units, we are uniquely suited to handle these large projects efficiently and professionally. NES has dedicated compliance staff to keep up with state regulations. This article is updated with the most recent regulations that Albuquerque real estate owners need to know. 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.
Submetering is allowed in Albuquerque but you must follow these requirements:
- The maximum billing fee is $5.00 as defined by the state of New Mexico
- Submetering or RUBS must be defined in the resident’s lease
- The resident is entitled to a copy of the utility bill and RUBS calculation if requested
Choosing A Submetering Company
When choosing a submetering or RUBS billing company for your commercial or residential property it’s important to consider these 12 factors:
Company History – Verify the submetering company’s history to ensure you don’t choose an inexperienced company
Pricing – Get pricing upfront for installation, billing, meter replacement, and software fees and clarify there are no hidden costs
Private or Public Company – Publicly held utility billing companies are limited with their capabilities
Customer Reviews – Check the companies Google Reviews to make sure they have great feedback from their current clients
Referrals – Ask for a few properties to contact and ask if they satisfied with their experience
Authorized Reseller – Verify they are authorized resellers of whichever meters you are purchasing
WiFi and Cellular Capabilities – Ask upfront if they have both capabilities since your property may require either
Meter Replacement Warranties – Do they offer warranties on any equipment you purchase from them?
Vacant Recovery – Verify they offer vacant recovery services
Customer Service – Do they have an in-house customer service center in case residents have questions?
Online Payment Portal and Payment Options – Compare payment options and ease of access to the online resident and manager portal
Software Integrations – Verify the company integrates with your rent roll software and accounting software.
NES is American owned and operated by its founder since 1988. Submetering has changed dramatically since the 80’s, new meters are state of the art wireless devices that report usage back on a daily basis. NES provides a warranty to landlords that covers all mechanical issues related to the meter. Unlike competitors, NES sells or leases the meters at cost which is unheard of in the submetering business. NES also offers leak detection services for an additional fee.
Do you own or manage a multifamily property with 100 or more units?
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