Smart meters use wireless networks to send data about your energy usage straight to the supplier, and they are becoming increasingly common in homes as a replacement to existing gas and electricity meters. There are many benefits to using a smart meter, and changes resulting from the pandemic have added to these. Because of this, more landlords are opting for them, particularly those who own high yielding student property investments. In this post, The Mistoria Group will explain why switching to one is the smart choice.
What are the benefits of switching to a smart meter?
The overarching advantage to using a smart meter, as opposed to a standard one, is that it allows energy usage to be accurately measured. This is particularly useful right now, as most people are spending more time at home due to lockdown, and as a result are using more electricity and heating than usual. However, the pandemic has created a culture of working from home that is here to stay, and therefore the changes to our energy consumption habits will be lasting. This means that being able to accurately assess energy usage will continue to be important after restrictions ease.
Smart meters are also more convenient for landlords and tenants alike. They produce statements and bills more efficiently and accurately, so tenants should only pay for what they use. In addition to this, readings can automatically be sent straight to the supplier. This removes the hassle of physical meter readings, which are especially difficult in the current circumstances, and of estimated usage, which is often difficult to get right and can lead to landlord-tenant disputes.
Alongside this, smart meters enable tenants to easily track their energy consumption in real-time, through the option to link up to an ‘in-home display’. This is a gadget that communicates wirelessly with the smart meter to show tenants how much energy they’re using in kilowatt hours (kWh), and how much this costs in pounds and pence. As a result, over-usage can be addressed before it becomes an issue, both in the form of high bills and the harmful effect excessive energy usage has on the environment.
How we can help with your high yielding student property investments?
The Mistoria Group offers a variety of highly sophisticated, professional and tailored property management solutions to effectively manage your Bolton, Liverpool or Salford high yielding student property investments. If you would like to know more about smart meters and making the switch, or about the services we offer, we would be happy to talk it through with you. To get in touch, please use our contact page or call 0800 500 3015.
We are members of ARLA and NAEA Propertymark, which means we meet higher industry standards than the law demands. Our experts undertake regular training to ensure they are up to date with best practice and complex legislative changes so they can offer you the best advice. We are also backed by a Client Money Protection scheme which guarantees your money is protected.