Tiffany MittalChief Executive Officer, Utility Ranger · CEO of Utility Ranger, in-house utility billing software

The Benefits of Implementing RUBS for Apartment Owners #apartments #RUBS #growyourportfolio

12 Feb 2024 · 1 min

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In this segment, the speaker addresses property owners who are considering selling a multifamily asset that does not yet have RUBS (or REBS) utility billing in place. He explains that sellers are increasingly adopting RUBS before listing because it boosts the property’s Net Operating Income (NOI) and therefore its sale price. This trend is shrinking the pool of available properties without RUBS, which some buyers specifically seek. The speaker also notes that his investment criteria target properties lacking RUBS so they can install the system immediately after acquisition, highlighting a strategic advantage in the evolving market.

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And so also speaking to someone who might be considering selling their property that doesn't currently have this implemented, talk about that a little bit. Summer in California and recently moved out to Florida. And one of our buying criteria is we want to look for somebody who's not doing REBS on their properties and instantly implement REBS right after we buy it. But I think people are starting to realize, wait, if I'm thinking about selling, Why would I not implement this before I sell? Right? So those opportunities to buy of people who haven't implemented it are definitely becoming smaller because people are catching on. Like, why should I not do this before I sell it? Increase my NOI so I can sell my property for more. You know, get the value before you sell.