LETTING & ESTATE AGENT

Introduction of Smart Meters

Introduction of Smart Meters

Suppliers have been taking over the headlines recently, with the big six energy suppliers facing criticism about price rises and profits.

The energy sector is currently undergoing huge changes which will impact how energy is supplied, measured and efficiently utilized.

One such change, which will revolutionise the energy sector, is the government-led introduction of ‘smart meters’.

These will replace existing meters and by 2020 every home in the country will need to have one.

What will Smart Meters do?

 They will measure the exact electricity/gas that is getting used and send all the information back to the energy supplier, putting an end to estimated bills so landlords, tenants and agents will no longer have to provide meter readings. They will also switch remotely between prepayment and credit ensuring a greater level of flexibility for the user and continuity of supply.

Smart Meters will measure usage and transfer the data back to the supplier so there will be no need for meter readings.

From a letting agent’s perspective, Smart Meters will take out a lot of the hassle out of the changeover period when tenants move in and out; therefore instead of estimated bills being sent out during the changeover, which need to be processed and credited by the letting agent or Landlord, the bill will represent its actual usage.

The tenant, landlord and letting agent does not even need to give the suppliers meter reading as using Smart Meters it will all be done remotely and make the changes occur over as easy as possible, as incoming tenants will only be billed for the energy they actually use.

These changes are important across the residential sector and have serious implications for letting agents and landlords, the introduction of new legislation and technology will change the way suppliers interact with customers and improve energy efficiency and energy use in residential; properties.

Did you know?

There is a new legislation coming into place in 2018. If a property has an energy performance certificate (EPC) of level F or G it will be illegal to rent it out.