Silver Asset Services is the trusted specialist, assisting building owners and bodies corporate to successfully acquire bulk utilities including electricity, water, air conditioning and gas, and managing those services on their behalf.
Our goal is to substantially reduce the cost of utilities for the long term, thus increasing the values and cash flow of the properties as a whole.
What is bulk utility supply?
Buying anything in bulk saves money and the same is true for utilities.
Because strata title communities represent multiple residents, they can buy utilities in bulk from various providers on a single bill.
This means that the Body Corporate can make significant savings on the running costs of common areas.
How does bulk supply work?
Utility meters are installed which are owned by the body corporate.
The meters are read on a regular basis (monthly or quarterly) and each residence is billed according to the meter reading.
The rate charged is determined by the Body Corporate and is based on the bulk utility cost they were charged for the utility.
The Body Corporate engages SAS to manage the meter reading, invoicing and payment of utilities for them.
The Body Corporate on-sells utilities in accordance with Australian Energy Regulator requirements.
What does SAS do?
Issues invoices to occupants/owners on behalf of the Body Corporate based on the meter readings.
Collects payments for the invoices.
Reads the meters.
Issues arrears notices if required.
Reports to the Body Corporate on financial issues relating to the billing process.
How does billing work?
Your invoice comes from your Body Corporate (issued via SAS) and not from the utility company.
The Body Corporate pays the total amount used by the complex.
It needs to recover this amount in a timely manner to pay the utility provider.
Occupants have 14 days in which to pay their utilities account.
Reduced tariff cost- The Body Corporate pays significantly less than the current standard retail tariff.
The Body corporate passes those savings on to the residents.
Reduce fixed costs (service fees)- residents can see savings of up to 50% off the standard fixed, daily supply fees.
Your Body Corporate does not make a profit on supply of utilities- it is not a retailer of utilities, you are charged the minimum amount possible.
You get the cheapest rate possible.
You don’t need to shop around for a utilities supplier – all of the work has been done for you.
What are the utilities that are supplied in bulk?
Electricity: The Body Corporate pays for the electricity costs up front, then on-charges residents based on actual metered consumption.
Hot Water: This is generated in bulk and supplied to each residence as needed and billed on metered usage.
Air Conditioning: This is generated in bulk and supplied to each residence as needed and billed on metered usage.
Gas: The Body Corporate pays for the gas cost up front, then on-charges residents based on actual metered consumption.
Water: The Body Corporate pays for the water cost up front, then on-charges residents based on actual metered consumption.
Silver Asset Services is the expert in utilities management for strata communities. If you would like to talk to an expert today, click here.