This article will walk you through the steps on how to configure and utilize Rentvine's Ratio Utility Billing System.
What is RUBS? RUBS stands for Ratio Utility Billing System. RUBS uses an algorithm available to spread various bills across multi-unit properties. RUBS is typically associated with a complex/buildings that have many units that are not sub-metered.
1. Under your Multi-Unit properties you will a have a setting under the details section named Utility Billing.
Select the "Configure Utility Billing."
2. Once you have selected to configure this setting the system will ask you to set your parameters for RUBS.
- Utilities- This drop down menu will have you select the type of utility.
- Vendor- You will select the Vendor associated with the utility, the vendor must be in the system under Vendor Contacts.
- Bill Charge Account- typically when choosing the bill charge account, you want to select an Expense Account. Due to the fact the owner is paying for the bill, this is usually an expense.
- Lease Charge Account- The Lease Charge Account is being paid by the tenant, this is typically an Income account.
- Percent Paid By Tenant- This is if there is a percentage being paid by the tenant and owner. If this does not apply and the tenant will pay for the full Bill, you will enter 100% in this field.
- Allocation Type- The drop down menu will have you select from the following:
Unit- split by number units.
Tenant- split by number of tenants (The lease that has more Tenants will pay more).
Area- based on square footage / (square footage has to be filled out in Unit details section.)
Beds- per bedroom / (amount of bedrooms has to be entered in the Unit details section).
If studio is selected, please select 1 bed. If studio needs to be charge accordingly.
Please Note: Allocations only apply to ACTIVE status leases.
If a lease is in a Closed or Pending status, when adding RUBS Billing it will NOT charge those leases.
3. Once you have configured the above the next step is to add a Utility Bill.
Under Accounting > Money Out > Actions > Add Utility Bill
If the Property does not have a utility configured the system will bring up an error. Go to the property view and follow steps 1 and 2 above.
- Once the Property and Utility are selected, you will see. Utility Info section appear to the right of your screen.
Utility Info will pull from the configuration created at the Property Level
- Bill Date- Date you want the bill posted.
- Bill Due Date- Date the Utility Bill is due.
- Reference and Payment Memo- These fields are optional but you may enter info for your records.
- Lease Charge Date- This date is when you would like the lease charge to be posted.
- Bill Amount- Total Dollar Amount of the Utility Bill.
- Utility Period (Start and End)- The period of time in which the owner was billed for.
Once you have entered all the information above you can click "Save."
If the Utility Bill is voided, this Action will NOT void the tenant lease Charges.