FAQs

What kinds of billing programs are available?

Velocity can bill for water/sewer, gas, electric, trash, and other property utility charges. There are two methods of allocating property charges: submetered and RUBS.

	Submetered	RUBS
Definition	Charges are based on actual consumption within a resident's unit, measured through a submetering device placed in the unit.	Charges are allocated to residents based on the number of occupants, square footage, bedroom factors, and/or hot/cold water consumption.
Calculation	Submeter Consumption x Utility Bill Rate = Charge to Resident, where: Utility Bill Rate = Utility Bill Cost / Utility Bill Consumption	Allocation Factor of Each Resident x Allocation Rate = Charge to Resident, where: Allocation Rate = (Utility Bill Cost x Pass Thru %) / Total Allocation Factor

Who should receive a bill?

Any resident that has signed a utility charge lease addendum. These addendums vary from state to state with regards to their wording and by which method of billing is selected, so be sure to check with the appropriate person in your organization to determine which addendum to use.

When can my residents expect to receive a bill?

Velocity sends bills out on a monthly basis, after the property authorizes a prebill report. When a particular resident receives a bill depends on his or her move-in date and the utility billing period being billed.