Prepaid sub-meters are an excellent way to manage utilities for properties that are being rented out. It is one of the only guaranteed ways for landlords to know that they will be paid for their tenants’ electricity or water usage every month. Sub-meters can be used for both residential and commercial properties. There are quite a few options to choose from when it comes to prepaid sub-meters, so how does one know where to start?
Firstly, when considering prepaid sub-meters, the hardware is not the only important thing. Sure, warranties and installation guides are necessary, but that usually comes standard with all prepaid meters. Look out for taglines such as lifetime warranties because these usually come with hidden terms and conditions.
By now, you’re probably wondering that if all prepaid sub-meter companies sell pretty much the same meter, then it’s obvious to choose the cheapest meter, right? Wrong! The actual meters may be the same, but it’s crucial to know that the meter’s vending system differs extensively. The vending system is what facilitates the whole collection process i.e. enabling tenants to pay for the electricity and water upfront by buying tokens and then paying back that money to the landlord at the end of the month so that they can pay their municipal bill.
What should you be paying for your prepaid sub-meter?
If you have decided to install a prepaid sub-meter, you should know that there are only two upfront costs:
1) Purchasing the prepaid sub-meter and
2) Getting the sub-meter installed by a certified electrician or plumber.
Once the meter is installed, you will need to activate it. Some prepaid sub-meter companies may charge you to activate and register your meter on their system, but we don’t. Citiq Prepaid does not charge any fees to activate the meter, nor do we charge monthly fixed fees.
Citiq Prepaid only charges customers an 8.45% service fee when purchasing tokens (regardless of the token amount).
Our service fee includes:
- Access to our innovative meter management portal where landlords can download reports and more and tenants can track purchases, buy tokens and calculate their spend.
- Support 7 days a week via our call centre, email or via WhatsApp.
- Recovering the monthly utility costs from tenants and paying this back to the landlord so that they can settle their monthly municipal bills.
To understand what a difference this makes to your pocket and how much you’re paying in the long run for monthly activation fees, watch our cost comparison video below: