Landlord - Electric Meter Advice

ImmyLFC

Hi all,

I am at a puzzle and was wondering if I could get some help.
I have a large property which I let out, seperated in Flats and 4 bedsits.

Each flat has a Electric meter operated by inserting pound coins, and the same with the bedsits.

I am finding that each day/week the system somewhere along the line is losing money, basically the money inserted is not coming out, the tenants are fine, I do not suspect anyone, and in the last few weeks I have put in around £40 out of my own pocket.

Basically whatever money comes out from the meters goes on the electric top up card, so no gain for me at all, and not that I want any.

In the past I have changed providers, done investigations in daily readings, meter readings but I am really dazzled as to what is going on.

My current provider is EDF. and all the meters have the same setting on them.

Can anyone please offer any advice?

whatatwit

I am unsure as to what you mean when state that the money inserted is not coming out. Presumably the money has no where to hide inside the meter?

Does each meter have an indicator as to how many units have been used?
If so, you could calculate what money should have been inserted to cover that amount of usage.

Is it possible that you need to reduce the amount of electric given for each pound, I know that the settings can be adjusted on the meters and prices are always on the up.

Another thought....does the amount of units on the main supply meter tally with the amount used by the individual meters?
Also, have you taken into account the landlord's supply for communal areas...if you have any plug sockets that are communal, are they maybe being used by a tenant to run something like a heater?

ImmyLFC

Basically what I meant is the money gets re-cycled if you like.

Any money taken out of the meters goes back onto the pre-payment card which supplies the electric in the house.

All the meter settings have been checked.

Terrylw1

Hi,

Ok, so you have installed private submetering by an electrician.

You need to calculate how high to set the cost of units used that it covers your main supply usage. It sounds like this is not the case.

On your submetering you should have a reading dial so you can work out which of the tenants uses what and map it to your payment into the meter.

The only other potential issues are a) coins have become trapped somewhere b) your tenants are assessing the meter and taking some back c) do any of the meters work even when no money has been placed in i.e. a fault? or d) the metering has been bypassed at the fusebox or somewhere to get power for free form you (not the Supplier in this case)

So, you need to look at the readings and work out if what you charge is covering your bill. Remember your Supplier will raise/lower prices and you need to alter your prices to accomodate increases or be out of pocket.

Have you ever considered swapping to a credit meter? You will get a cheaper tariff (PP is always more expensive) which will help your profit margin. Also, id there is ever a problem then your tenants are stuck.

Some PP meters e.g. Smartpower in the Midlands region can be converted to credit & back via commands from your Supplier meaning you could try it out. Speak to your Supplier though as it depends on your meter, otherwise it's a site meter change.