Prepaid Meters: How It Works, Prepaid Sub Meters Explained
Our prepaid meters for water and electricity are installed on a sub meter basis. This means that the supply authority (Eskom/Municipality) meters remain in place. Our prepaid sub meters are merely a means for a property owner or body corporate to collect money from their tenants before they consume electricity. Our prepaid sub meters are fitted in the rental unit adjacent to the distribution board and are suitable for entire blocks of flats, complexes and even granny flats. We can install more than one prepaid sub meter per property!
JKNV ENERGY OFFERS 3 VENDING METHODS.
All 3 vending methods are available to both prepaid electricity and prepaid water purchases.
Outsourced revenue collection via nationwide vending channels
The tenant purchases prepaid electricity for their prepaid sub meter via our nationwide vending channels, making use of selected:
- Pick & Pay stores
- Checkers hyper
- Uni Pin outlets
- BP Express stores
- FNB internet banking, FNB cell phone banking & FNB ATMs
- Standard Bank, ABSA, Nedbank internet banking
- Online: Credit Card purchases via Easy Pay
At the end of each month the total revenue collected on the prepaid sub meters is paid to the property owner’s or body corporate’s bank account, who in turn pays the supply authority (eg Council or Eskom). JKNV Energy will charge a 15% administration fee on all transactions. This fee will be recovered when purchasing a token, the tenants are charged this convenience fee, so the Landlord does not pay for this service.
Outsourced revenue collection via JKNV Energy
This option is used if the Landlord doesn’t want the hassle of collecting the money for electricity, but still wishes to maintain control by being able to instruct us not to vend electricity should the tenant have rental arrears.
Our minimum administration fee is R30.00 per meter per month or 10% of sales whichever is the greater. This covers access to our website, meter revenue collection management, SMS return vending and support
When the prepaid sub meter is purchased by the property owner, a registration form will need to be completed by the property owner and emailed or faxed to JKNV Energy.
- The tenant does an EFT or deposits cash into JKNV Energy’s bank account, using their meter number as a reference. Minimum purchase of R500. Operating hours Monday – Friday only. (No cheques, all cash deposit fees will be deducted from the total paid.)
- JKNV Energy allocates the amount paid by the tenant to the nominated meter.
- The tenant sends an sms to our vending platform, SMS format to be sent is m(pin No.)* meter No.*amount, to 0790914073. example SMS for a R500.00 purchase is, (m(1356)*04192130303*500)
- The Tenant will receive a return SMS with a 20 digit token number that they will punch into their meter. NB. the tenant must allow +-
1 hour before sending the SMS.
At the end of every month JKNV Energy will do an EFT into the property owner’s bank account, for all revenue collected on the prepaid sub meters less administration fees. The property owner in turn pays this revenue to the supply authority.
Owner managed vending
Web vending is available for Landlords who prefer to collect cash from their tenants and generate their own tokens. This vend is done on the internet, to generate a token the Landlord needs to enter the Meter No. Pin No. and Cell No.
When the prepaid sub meter is purchased by the property owner, a registration form will need to be completed by the Landlord and tenant and e-
Our minimum service fee is R 30.00 per meter per month. This covers access to our website, SMS return vending and support.
Be it a block of Flats a Granny Flat, house, shops, factory or entire complexes, JKNV Energy can offer tailor made vending solutions for your prepaid sub meters to suit a variety of needs.
It’s all done for you, so that you can focus on your core business whilst we ensure your property is operating smoothly and your utilities are being collected efficiently.