Pre-paid gas & electric meters - any good?

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    Pre-paid gas & electric meters - any good?

    Can anyone please offer an opinion or advice on pre-paid meters?

    Apart from the landlord knowing the utilities have been paid, what other, if any advantages/disadvantages are there?

    Any idea how much they cost to install or have removed?

    Many thanks

    Rebecca

    #2
    Originally posted by Rebecca12 View Post
    Apart from the landlord knowing the utilities have been paid, what other, if any advantages/disadvantages are there?
    Rather depends on your target market. If you're after professionals, pre-payment meters would be a huge turn-off - the energy is far more expensive and it's a pain to have to keep topping up. Arguably, if it's someone living on the breadline they might prefer it as they can budget more easily

    Any idea how much they cost to install or have removed?
    There shouldn't be any charge, and subject to the credit rating of the tenant, can simply be changed at their request. So it shouldn't be a big issue for the landlord.

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      #3
      Originally posted by Rebecca12 View Post
      Apart from the landlord knowing the utilities have been paid,
      What difference does that make? don't you get the Ts' name on the bill - at which point, it's not your problem!

      Comment


        #4
        Originally posted by Rebecca12 View Post
        Can anyone please offer an opinion or advice on pre-paid meters?

        Apart from the landlord knowing the utilities have been paid, what other, if any advantages/disadvantages are there?

        Any idea how much they cost to install or have removed?

        Many thanks

        Rebecca
        Definitely more expensive in the long run, but is very useful for those who need to budget. I nearly tore the strip off a tenant who changed to pre-paid electriciy meter in one of our properties - without informing us. Turns out she'd racked up a debt and the utility company put the debt on the meter, so she could pay it off in weekly installments. She's since moved out, and the new tenant will have a hard time changing back to normal meter until they've been in residence for at least 6 months.

        I've had terrible trouble with utilities wiping off old tenants debts on these things. Some are better than others at dealing with it, but a pain none the less.

        On the plus side, we've installed pre-paid meters in some of our HMOs (configured as bedsits) so that we can collect rent/utilities/LHA top ups ... works a treat. Arrears levels reduced and utility wastage was cut dramatically.

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          #5
          I do not like key or card meters. The problem is when the property empty, I still had to pay a STANDING CHARGE!. The meter would accumulate debt! Something like 40p per day! Even though the usage is minimal.

          So even if the tenant leaves a few pence in the meter when they leave the property, you soon find the meter starts accumulating debt. This is annoying if you have to do evening viewings with new tenant. And you are forced to clear the debt, just so you have light!

          And even these call centre staff have no idea about tarriffs. I have told 3 different prices on 3 difference occasions. The worst offender is British Gas!!

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            #6
            Very helpful comments. Thanks.

            The enquiry came through another landlord for one of his properties which is aimed at professionals. I felt installing a pre-paid meter would be off putting and offer no real advantage as the utilities would be in the tenants name shouldn't really affect him.

            Thanks again

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