Benefits of Submetering: Advantages of Electric Sub Meters
What is Submetering?
Electrical submetering allows landlords of multi-tenanted properties, ADUs, outside rooms, mobile homes, multi-tenanted commercial buildings, or business parks to determine the electricity consumption of individual units. By implementing a submetering system, property owners can improve energy management and monitor tenant usage more accurately. Let us explore the benefits of submetering:
Benefits of Electric Sub Meters:
1. Reward Tenants for Careful Electricity Usage
The “eat all you can” model of bundling electricity costs with the rental is imperfect, as it penalizes tenants who conserve electricity while others use more than their share. With an electrical submetering system, tenants can manage their costs and control their energy consumption, choosing when to top up in increments that suit their budget.
2. Reduce Costs for Landlords and Tenants
Installing electric sub meters typically halves electricity bills as tenants are aware of what they use and can control it. This leads to significant energy savings for both parties - No unexpected large bills.
3. Save Time. Less Admin for Landlords
Metro Prepaid meters remove the overhead and time associated with reading check-meters and reduce the admin burden associated with managing energy use across multiple units. A good submetering system means less time spent on manual tasks.
4. Easier Monthly Accounting for Landlords
As well as having no petty cash to reconcile, Metro Prepaid delivers comprehensive reports that simplify bank reconciliations.
5. Easy Top-Ups for Tenants
Tenants appreciate the opportunity to better manage their usage and the convenience of purchasing electricity online or at any one of almost 100,000 PayNearMe linked outlets (includes 7Eleven, Walmart, Dollar General, CVS, Casey's)
6. Improve your Property Valuation
Installing electric sub meters typically halves electricity bills, raising a property's net income and once a capitalization rate has been applied, the property’s valuation.
7. Metro Prepaid Manages your Tenant Queries
Metro Prepaid Help Desk is available 24/7 to assist your tenants, saving you time.
8. Better Technology
Metro Prepaid offers reliable, durable meters with a 1-year warranty, providing landlords and tenants with cutting-edge solutions for energy management and efficiency.
9. Tenants Pay for What They Use
As well as the actual usage, there is the option to set the recovery tariff so that tenants pay the service fee when they top-up.
10. Meters and Codes are Secure
The Metro Codes are unique to your meter and very secure. Emergency credit is even available if the tenants forget to top-up.
Click here to buy an electric sub meter for landlords. Our electric submeters are also available at local electrical wholesalers across the country.