Before we take a look at the types of services available to the strata industry let’s clarify what we mean by bulk utility management services.
Bulk utility management services are administrative and energy management supports designed to help the strata industry to provide bulk utilities — like electricity, hot water, gas and water — to Body Corporates and strata communities. Bulk utility management services are often provided by third-party providers called utility management companies or utility management providers, like Silver Asset Services.
Due to the number of multiple residents, strata title communities have the purchasing power to buy utilities in bulk from various utility providers on a single bill. This is known as Bulk Utility Supply. Buying in bulk allows you to get a better deal. It also means that your Body Corporate can make significant savings on the running costs of common areas.
So, you might be wondering what utilities can be supplied in bulk to strata communities?
Your bulk utilities might include some or all of the following:
– 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.
– 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 water costs upfront, then on-charges residents based on actual metered consumption.
You want to ensure that you partner with a reliable and trustworthy provider to help you deliver bulk utilities to your strata community.
You’ve done a google search and found a list of utility management companies servicing your area. But what next? How do you choose the best provider for your strata community?
What makes them great? Let’s break it down for you.
Here are some of the top characteristics to look for when comparing providers:
– Expertise – How long have they been supporting the strata industry. Are they experienced with residential and/or commercial strata properties? How many clients do they have? Have you seen any reviews or testimonials? Who is in the team? Select a provider that has the relevant experience and certifications. The best partners have years of experience working with clients like you.
– Compliance – Does your team have the knowledge and systems in place to ensure that your Body Corporate meets your legal and financial obligations? Check that they have a clean compliance record. Are they keeping up with the latest industry requirements? Do they have the checks and balances in place to manage account receivables and debt recovery on your behalf?
– Accessibility and support – Can you speak to someone when you need help. Are there dedicated phone numbers for Body Corporate support as well as account and billing enquiries?
– Transparency – High-quality providers will give you the information you need to make the right decisions. Look for great communicators who won’t withhold information and will provide regular reporting and individual account management support.
– Accreditation – Make sure you take a look at your provider’s credentials. If they are an embedded network manager, for example, they must be accredited by the Australian Energy Market Operator.
– Strata Utility Services – The best utility management companies provide advice and services tailored for the strata industry. They also have access to the resources, expertise and technology to help your Body Corporate meet your goals.
So how can utilities management providers support you as Bodies Corporate, Strata Managers and strata communities?
Any provider worth its salt will provide the following services:
– Metering and meter reading
– Customer management
– Billing
– Reporting
– Accounts receivable
– Debt management
– Energy contract and tariff management
– Embedded Network Management
Here are a few things to consider when outsourcing these functions.
It’s important that you ensure that your meter readings are carried out in accordance with legislation and your billing cycle requirements.
At SAS, we have dedicated contractors who attend site to read the meters as per your Committee’s requested billing cycle. We also ensure that ad hoc readings are taken when occupants move in or vacate so that they are accurately billed for what they have used. Our meter readers follow strict protocols that are based on legislative requirements.
Can your provider manage your billing process?
This is one of our core services at SAS. Once meter readings have been recorded, we issue individual bills to all occupants according to their actual consumption. We will also manage and lodge pensioner rebates and ensure that these are passed on to eligible customers. Bills can be sent via email or post to occupants.
How will your Body Corporate receive occupant payments?
For example, we have a dedicated bank account for each Body Corporate for the occupant’s payments to be receipted into. At the end of each month we forward all recoveries to the Body Corporate.
Let’s face it, collecting unpaid accounts can be hassle.
As a bulk utility provider, Body Corporates have certain legal responsibilities to ensure that your financial processes are fair and protect the interests of your unit holders. Be sure to ask your provider how they are meeting these responsibilities. Compliance is crucial when it comes to financial management and debt recovery.
At SAS, our debt management process is based on Australian Energy Regulator’s (Retail) Exempt Selling Guidelines. You can be assured that our timelines for the issuing of reminders, disconnection warnings and disconnecting residents are compliant.
Body Corporates who own and operate an embedded network for more than 30 lots must appoint an accredited embedded network manager to process any occupants wishing to churn out of the network. Your embedded network manager must be accredited by the Australian Energy Market Operator (AEMO).
Silver Asset Services is an accredited embedded network manager. Our accreditation by the AEMO means that we are able to manage all aspects of this role on behalf of your Body Corporate.
As you can see there are many factors to consider when engaging a utility management provider for your Body Corporate and strata community. It’s important to partner with a bulk utilities and energy management company that is experienced and that you trust.
At SAS, we pride ourselves on the expertise of our team who are supported by proven quality assurance programs and technology. We tailor our bulk utility solutions to suit the resident profiles and utility management needs of individual strata communities. You’ll find our services are cost-effective, accurate, compliant and timely.
Would you like to know more about how bulk utility management and consulting works?
We can help you to make an informed decision about managing your strata community utilities.
If you would like to know if you have the best electricity rate for your Body Corporate or would like to find out more about our bulk utility management services, get in touch. Contact Silver Asset Services and speak to one of our experts.
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