what does the term rubs mean on an operating statement

In Property Management - Asked by Penny S. - Aug 26, 2010
Report Abuse
Answer this Question

Answer(s)

Marlene D.
Broker/Agent
Beverly Hills, CA

RUBS means Ratio Utility Bills System. With RUBS, a price based on actual use is not sent to the tenant as with submetering, and the amount of water saved by these systems is unclear, but usually there is some percentage of savings. A hot
water hybrid (HWH) billing system is a combination of submetering and allocation where hot water is submetered and a formula is applied to estimate the resident's total water use based on the volume of hot water metered. HWH systems provide more of a price signal than RUBS but less than that for
sub-metering. Many multi-family properties around the country are implementing RUBS programs with great success. This eliminates the need for costly sub-metering installation and makes the billing process simpler. Normally, the total property water bill is used for the calculation. The total bill is reduced by 10% - 25%, for common area usage, and the remainder is divided among the residents.
Larger units may pay more than smaller units or units with more occupants may pay a larger percentage in an effort to be as fair as possible. A RUBS system is sometimes implemented until a metering system can be installed, thus helping the owner with water cost expense in the interim.
ABOUT
UTILITY BILLING
“the most Comprehensive
place for information about
Apartment Utility billing on
the Web.....
Based on information from AABS, a utility billing company, a ratio utility billing system (RUBS) uses an allocation formula that divides a property's water bill among its residents based on a ratio of floor space,
number of occupants, or some other quantitative measure. For more information about a RUBS program,
contact AABS at 800-678-5508.
Why Use A RUBS System For Billing?Water Submetering Utility Sub metering Apartment Water Billing Submetering Laws Water Conservation
Water Savings Wireless Meter Reading Electricity Metering Inovonics Utility Billing Services
Utility Bill Management Utility Billing Facts..
Actually I thought it meant Rich Urban Bikers..Just kidding...:-)
Marlene Dennis

Aug 26, 2010
Report Abuse
Michael K.
Owner/Investor
Fort Lauderdale, FL

Ratio Utility Bill-back System
It is a system of billing tenants for utilities in master metered buildings. Usually, it uses a square footage divisor e.g. your apartment (or office) is 1,000 sq ft and the entire building is 10,000 sq ft. In this case, you would pay 10% of the building's master metered utilities.
Glad I could help

Aug 26, 2010
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question