Should I request a true-up?

If you are considering requesting to true-up your estimated final bill with the actual final bill(s) issued by utility provider(s) after your move-out date, as described in the “What does it mean to true-up to my actual final bill?” FAQ, please note that we can’t predict whether your portion of the actual final bill(s) will be higher or lower than your estimated final bill, and we also cannot say which approach is right for you, as individual circumstances and preferences vary. However, you might consider and take into account the following when making your decision:

● Your utility usage in the last 90+ days. As explained in the “How does SimpleBills estimate my final bill?” FAQ, we calculate your estimated final bill using the utility charges in your most recent bills (covering at least 90 days of billing) at the time we issue your estimate. Specifically, for each utility, we first calculate your average daily utility charge in those bills, and then we multiply that average by the number of days in the estimated period. Because your estimated final bill is based on your most recent utility bills, you should consider any circumstances that may have affected your recent utility usage as a point of comparison for the estimated period.

● Will the unit be occupied during the estimated period? Because the estimated period covers your final utility bills, some of the estimated days could fall before your lease ends but after you and/or your roommates have moved out. If no one is living in the unit, this could reduce some utility charges. However, if even one roommate is continuing to live in the unit, you may continue to incur utility charges for things like lighting, appliances, and water usage.

● Will air conditioning be running during the estimated period? Estimated final bills often cover the summer months, when temperatures increase. This can result in increased utility costs on the actual final bill(s) as compared to your estimated final bill. Many properties may run air conditioning in unoccupied units during these months to protect the property against heat damage. If your property runs air conditioning during the estimated months, increased utility costs from air conditioning may offset or even exceed any decreased utility costs if you or your roommates move out. On the other hand, properties that are located where summers are milder, or that do not have or do not run air conditioning, may not see the same degree of increases in utility costs.

● The true-up process involves tradeoffs. There are benefits and drawbacks to both requesting or not requesting a true-up. Estimated final bills allow you to resolve your utility bills well before your lease ends, so that you can move out with certainty that you will not need to pay anything for utility bills received weeks or months after your lease ends. Because these are estimates, the actual utility charges may be higher or lower than the estimate. On the other hand, if you request a true-up, your estimated final bill will be reconciled with your actual final charges, and you may receive a refund or you may need to make an additional payment, as described in the “What does it mean to true-up to my actual final bill?” FAQ. That reconciliation can only occur after we receive all of the actual final bill(s) for the entire estimated period from the utility provider(s), which can be weeks or months after your lease ends. That means it may take up to 12 weeks after your lease ends before you know if you will receive a refund or will need to make an additional payment.

If you would like to request a true-up, please follow this link to access the true-up request form: https://app.simplebills.com/true-up-request

Please note the following:

● You must be logged into your Simplebills account to access the True-Up Request form.

● In order to be eligible to true up, you must fill out the form within 30 days of your lease end date.

● Your invoice must be settled with SimpleBills prior to requesting a True-Up.

● The true-up cannot start until we have received all of the utility bills for the period of time that has been estimated. This may take up to 8 to 12 weeks after you move out. After SimpleBills has received all of the actual utility bills we will begin the true-up process.