Recent reforms by the Australian Energy Regulator have called upon residential investors to analyze ongoing energy costs and consumption. This reform calls upon investors to verify other options in energy efficiency, as the goal is to ensure that consumers are not paying more than necessary when it comes to utility charges.
As a property investor, utility charges such as energy, water and gas should be a priority. It is critical that you understand how much this will cost you in the long run. An agreement should also be met between the investor and the tenant as to how these charges will be paid. Often, individual meters are installed to monitor every tenant’s consumption.
As an investor, you should have an energy saving plan, especially if your investment is energy dependent. Ensure that these expenses are forecasted, as you can’t overcharge tenants for their consumption. This is considered an offence. Check for energy saving options – they may cost more initially, but this will significantly reduce your expenses in the long run.
Read more about this on the My Wealth News website.