Manage your Rental Property with "Prepaid Sub Meters"
Prepaid Electric is a company focused on helping to support and protect the Property Investor's electricity accounts by means of Prepaid Metering. Our Sub meters are the affordable answer to situations where:
a) More than one property is leased on the same premises
b) Landlords want to rest assured that they are not left with unpaid electricity bills after a tenant has moved out.
Prepaid Electric offers the following with regards to the Sub Meters:
- Prepaid Electric monitors and manages the portfolio on behalf of the Owner (optional)
- Tenants purchase vouchers at participating outlets 24/7 or make use of EFT deposits to purchase electricity
- Monitoring is available round the clock via the sub metering software (optional)
- Money received from voucher purchases is paid to Prepaid Electric and owners are then reimbursed by one of the following options:
- Pay the Owner
- Prepaid Electric pays the money collected from purchased vouchers directly into the Owner's bank account
- The Owner then pays the Municipal account him/herself
- Monthly Statements of purchases and payments are issued (optional)
- Pay Tshwane Municipality
- Prepaid Electric pays the Municpality directly on behalf of the Owner
- Prepaid Electric collects the money from the sub meter/s installed and pays the electricity usage of the current account - the account stays open at the municipality (on the owner's name)
- The Owner stays responsible for the rates and taxes
- The Owner will receive a monthly report reflecting the current account balance, less the payment made by Prepaid Electric (Optional)
- Buy Vouchers
This option only applies where a main municipal prepaid meter has been installed in the main dwelling on the premises
- Prepaid Electric takes control of the municipal prepaid meter instead of leaving this to a tenant
- Prepaid Electric collects the money from the sub meter/s installed and "funds" the main municipal meter with a monthly municipal voucher. This token is forwarded via SMS to the responsible person
- Monthly Statements are also available (Optional)
Prepaid Electric prides itself in honest business and offers Owners access to log into the purchase register of all vouchers purchased (more information is available from our office, after installation).
Take note, because the municipal system does not cater for prepaid solutions in sub letting situations, the service is provided by private institutions - therefore the use of private software. Due to this a transaction cost of 10% (excl VAT) is taken as an admin fee on all transactions.
Advantages of the Prepaid Sub meter:
Prepaid Sub meters do not only control electricity, but enables the Investor to gain control of his/her intire property portfolio in the following ways:
- The meter's software is designed in such a way that any Owner can access the purchase history on all his/her tenants meters - assuring peace of mind that the payouts made by Prepaid Electric is openly and honestly done.
- Monthly Levies (fixed costs) can also be collected via the meter (eg. an average water consumption levy per unit).
- Overdue rental situations - Prepaid Electric offers the Investor more control - by disabling the prepaid sub meter to prevent all further vending of electricity until the outstanding rent has been paid.
- Debt can be collected via the prepaid sub meter.
- The tenants receive no access to the software
- Prepaid Electric monitors and polices the sub meters monthly (Optional)
- Tenants found guilty of tampering/bypassing a meter (upon inspection by Prepaid Electric), will be fined with a R1000.
- Stolen electricity during time of bypass will also be calculated for the tenant's account and loaded onto the meter for payment.
- Prepaid Electric will inform and discuss every finding / action with the Owner.
Take charge today and put the power back into your own hands!