Ratio Utility Billing
Reduce Your Operating Expenses
When you automate energy costs with Vitality Energy, you can manage a wide range of tenants while also incentivizing them to save energy. If you’re worried this is going to be a long, hard, expensive process, we promise it won’t be. In fact, ratio utility billing is one of the most convenient ways to manage your utility billing processes. Vitality’s Ratio Utility Billing (RUBS) platform allows you to invoice your tenants easily and effectively.
Improving RUBs with
Many landlords, building owners, and property managers are using complex spreadsheets or outdated software to manually calculate tenants’ bills. Most don’t have the time to account for true tenant consumption and utility rate changes.
Vitality’s automated RUBs gathers operational invoices, disseminates the data, and turns it into tenant invoices. Our artificial intelligence learns from the data, using complex algorithms to make calculations with greater accuracy than any other system. This allows us to create the most effective tenant billing system, providing each tenant with the fairest utility bill possible. People can make mistakes when they attempt to manually complete the billing process. The use of our ratio utility billing system prevents these mistakes from occurring.
Improving RUBs with Detailed Accuracy
Ratio utility billing is a popular method for distributing utility expenses. It takes a number of factors and uses them to determine the percentage of the bill that each tenant is responsible for. This method uses factors like the number of occupants, the size of the building, or the number of rooms to determine the distribution of the utility costs. It can also be customized for individual utilities, as well. For example, a unit with 4 residents is likely to use much more water than a unit with a single occupant. Therefore, you may choose to distribute water expenses based on the number of occupants. On the other hand, it will take just as much energy to heat two houses of the same size, regardless of the number of occupants. Therefore, you may choose to use the square footage of the unit to determine the distribution of gas costs.
The Benefits of Ratio Utility Billing
There are many benefits to the use of a ratio utility billing system. This system helps to provide a fair alternative to utility billing. It can even be customized to be based on different percentages of different factors. The use of this system allows your tenants to feel as though they have more control over their costs of living. It can also encourage them to conserve energy as much as possible because they will be responsible for the resulting bill. Utility submetering is another effective method for utility bill management, but it often requires a large initial investment to install the equipment. Ratio utility billing eliminates the need for this equipment, allowing you to lower your operating expenses from the beginning.
Online Tenant Portal
Vitality allows your tenants to access their invoices through our cloud-based platform. From there they can access historical and energy data, pay invoices, and speak with a customer support representative.