Feeling helpless with your bills? Check how to avoid a total disaster
Moving into a new house is exciting, we all know. However, as a landlord, you must be aware of the risk when getting new tenants settled in your property. Once you have painted the walls, set up the furniture and cosy decor around, it is time to take the last step – register utilities. Registering gas, electric and water, dealing with council tax, setting up internet and tv licence – it all requires good planning and time, which perhaps you don’t have. Hence, by doing it on your own, you may find yourself with a huge bill to cover.
Let’s have a look at two possible scenarios.
- Tenants manage the bills themselves
Tenants have so much more over their heads when moving into the property, and the last thing they wish to do is dealing with bills. Imagine that the bills are registered in the wrong name by accident (for instance in your name!) or set up with the wrong or random provider. What’s the result? No profit for the landlord and bills not been paid by tenants, leaving bad debt on the property.
- Bills are in the landlord’s name
You may decide to leave the bills in your name. Well, don’t. Tenants may use too much water or gas since they don’t feel responsible, resulting again in a bill that you wish you didn’t have to pay.
On top of that, as a landlord, you have to keep it all under control by taking meter readings and speaking to providers. Poor relationships with utility companies and lack of a dedicated account manager may lead to the absolute mess where bills might go to the property or to another address. A lot of different payments going out at different times may leave you all lost and frustrated.
Your rental experience, however, does not have to turn into a nightmare, since you can rely on One Utility Bill service. One Utility Bill will ensure that all your bills are in one place, providers are selected carefully and accurately with a guarantee of the best price. This way, you don’t have to worry about losing time or money. Instead, by using One Utility Bill platform you can earn some extra profit by informing the utility providers about any changes in the tenancy.