What are the Prepaid Metering Solutions for Body Corporates & Complexes?
There are many advantages for the body corporate and the property occupant making use of prepaid electricity meters, prepaid water meters & management solutions. Our management solution will become a lifetime management tool at a once-
Normal ways in which electricity is managed
Electricity is normally managed by a body corporate or block of Flats in several different ways. The most common being either:
1) Electricity for each townhouse or flat in some areas can be registered directly with city council. This means that each unit in the complex has a separate meter & account with the relevant city council and is billed directly. Or
2) More commonly electricity is managed by the body corporate or property manager and incorporated with the levy account. In this case there is one bulk electricity meter for the entire complex registered with city council. Each unit would then have its own sub meter installed by the body corporate from which readings are taken.
Recovery of electricity via invoice to the occupant: post payment
Many body corporates operate on a post consumption billing system. The end user first consumes electricity and then gets a bill for their usage. If the end user does not pay his usage, that invoice will simply go unpaid and the body corporate or complex would then have to do what is necessary to collect the outstanding amounts.
Sectional title body corporates will still have to pay for the consumption of the bulk meter as non payment will result in the entire complex being cut off. This puts pressure on the body corporate’s cash flow, and in almost all instances, the one or two that do not pay their bills will have to be subsidized by the those that do pay as to avoid cut off’s.
If the end user has not paid his electricity, the chances are that he will also not be paying levies, rental or bond repayment. This causes further losses for the body corporate and puts additional strain on the relationship between the body corporate and the individual owners. Making use of our prepaid metering solutions for body corporates ensures that at the very least, costs are minimized for the body corporate in these specific instances.
Not to mention all the administration and effort that goes along with reading the meters and sending statements. As well as billing queries and disputes from the occupants of the units.
JKNV Energy’s Prepaid Metering Solutions for Body Corporates & Complexes
The biggest advantage for the end user of working with our prepaid system is to know that they are not being overcharged for the usage of electricity due to incorrect readings. He gets what he pays for, it is as simple as that. End users also gets to see the actual cost of electricity and can use it more sparingly.
Using our prepaid metering solutions for body corporates, the recovery of electricity consumption is paid up front by means of a national vending platform. Theoretically, your electricity account should always be in credit as electricity units purchased is paid by JKNV Energy to you before you are invoiced for electricity by city council.
No more unit meter readings, no more queries from the end user on their electricity or water consumption. It is an easy and effective way to reduce your administration costs and collection hassles. We can even include minimum fees for common lighting!
Prepaid rates and management fees
Most body corporates outsource their electricity management to meter reading companies or other private management firms for which they are charged a management fee. With our system that service is no longer required and can be done away with.
It is widely known that prepaid electricity is more expensive than conventional electricity. The prepaid rate for electricity is between 8 – 21 % more expensive than conventionally billed electricity depending on the area. This is due to fees that are charged for use of the countywide vending platforms cash collection fees and any others fee associated with the vending process. However we charge the same rate for electricity and water as the rate billed to the Body Corporate.
JKNV Energy charges a 15% administration fee on each transaction (see “How it works” for additional vending options). This fee is paid by the end user, when he purchases water or electricity. The fee covers, as mentioned above, all the vending related fees as well as our administration IE monthly statements, money transfers, revenue protection due to tampering, tamper detection monitoring.
Electricity theft is illegal and most definitely a criminal offence. It is also illegal to tamper with an electrical meter, as soon as the occupant tries to bypass our meters, we will be notified by the various monitoring equipment installed inside the meter as well as additional monitoring tools used to detect tampering
Our unique prepaid metering solution for body corporates will ensure better cash flow and peace of mind that all end users are in fact paying for their individual consumption. Our system will save thousands in legal fees related to collection of arrears. It will also put an end to the threat of cut off’s due to non payment of council bills.
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