If you’re a landlord, how should you manage the energy within your property?
As a landlord, you may be concerned that tenants might run up debts against the energy bill that you may end up having to pay for. As a result, many landlords choose to install a prepayment meter in the property rather than a standard credit meter. A prepayment meter requires the tenants to pay for their energy usage upfront ensuring that they can never accumulate debt on their account – read more about prepayment energy meters here. If you want to get a prepayment meter installed in your property you can arrange this by speaking to your energy supplier and they can organize for someone to come out to the property and fit one.
While a prepayment meter may be the best solution for you, it’s almost never the best solution for your tenants. Prepayment meters are typically the most expensive way to pay for energy usage, so if you can avoid using one then your tenants will thank you for it!
An alternative option may be to ensure that you manage the energy bills on your tenants behalf and include the price within the rent costs. If you sign up to a fixed rate tariff you can keep the costs fairly stable for a year or two at a time. You can compare all fixed rates tariffs currently available on the market using our Ofgem accredited comparison service. Click here and enter the postcode of the property to get started.
If you would prefer your tenants to manage and pay for their own energy bills, then you could help to ease the process by taking meter readings when an old tenant moves out and a new one moves in on the tenants behalf and communicating these along with the change of tenant details to the energy supplier. This will ensure the correct tenants are billed appropriately for their energy usage and will avoid any disagreements.