Submetering and Ratio Utility Billing Systems (RUBS) Regulations
Submetering and RUBS in New York, NY
New York City has a population of 8.5 million people and is the largest city in the US. It’s a fantastic place to be a multifamily property owner due to urban density and high cost of living.
The average 2 bedroom home or apartment rents for $2,049 per month.
Electricity, gas and water prices are all on the rise due to hot summers, cold winters, and rapid growth.
Multifamily owners concerned about their net operating income have some choices to make about how utilities are allocated to their multifamily properties and should be aware of local utility regulations.
Ratio Utility Billing Systems (RUBS) – Law is Silent
Submetering – Not Allowed per State
Ratio Utility Billing Systems (RUBS) is not allowed per State
Submetering – Allowed per State
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