Did you know your body corporate or owners corporation community could enjoy significant savings by buying utilities such as water and electricity in bulk?

Buying utilities in bulk means lot owners and tenants enjoy lower costs per individual property. For investors, this also means a higher return on investment and potentially reduced levies/fees.

So how do you know if your complex would benefit from bulk utilities supply?

If your complex uses more than 100,000 Mwh per year – the equivalent of approximately 20 two-bedroom apartments – then bulk electricity supply is worth investigating.

Even if the residential component of a development of doesn’t meet the definition of a large customer, buildings that have a mixed use component, with commercial and retail tenancies, may reach the 100,000 Mwh threshold, making it eligible for bulk discounts.

And the savings are substantial.

By purchasing electricity at regulated bulk tariff rates, strata communities can save up to 50% on the cost for their common area power.

Silver Asset Services gives access to industry-leading experience in bulk utilities supply administration and the resultant cost savings and provides strata communities with the platform and networks they need to negotiate with suppliers and buy electricity and other utilities at rates usually not available to individuals.

The cost savings associated with on selling utilities are attractive, but there are many regulatory and administrative obstacles that can be overwhelming for a committee to manage, however Silver Asset Services works with committees to make the process straightforward.

Silver Asset Services provides a quarterly performance report for the strata committee which outlines total consumption, total amount billed by lot, and savings made. These are supplemented by a financial activity report to complement financial data provided by your body corporate manager.