Should I buy the Meters or Use the Landlord Metering Service?
Meterpay, working closely with Iskraemeco, who are the second largest European meter manufacturer, have created and run the computer systems needed to operate these smart meters. In the last two years since they have been created the advantage of their system has really proved itself, especially with major clients, and there are now over 3,000 of these meters on the Meterpay system within the UK.
Landlord Metering are partners of Meterpay, with our mission to deliver their PAYG smart meter service in a manner which is simpler and more cost effective to landlords.
We will happily sell you the Iskra ME382 and MT382 meters directly and a subscription to Meterpay, moreover we will match any price that you can find elsewhere. But we would ask why would you want to buy the meters when you can use our service? See how the services compare below:
|Buying The Meter||Landlord Metering|
|Initial Cost||£210+/meter||From £95/meter|
|Ongoing Cost||Approx £100pa||Free|
|Time and Effort||Required||None|
|Top-up Line||0845 (Premium Rate)||0800 (Freephone)|
|Energy Procurement||You're on your own||We'll sort it|
|Tenant Support||You'll be involved||We take care of it|
|Landlord Support||Standard Meterpay Support||Exceptional|
Cost & Commitment: Besides for the initial cost of about £215 for the ME382 (about £300 for the 3-phase MT382), if you buy these meters and run them yourself there are ongoing costs involved – including the cost of subscription to Meterpay’s service and card payment fees – which comes to around £100pa.
Also you will be committed to using the system, as if you end up deciding that the system is not for you and your tenants, then you would waste the full cost of the meters and the installation.
Compare that to Landlord Metering’s service, where the initial cost is a fully refundable deposit from just £95 per meter, with no ongoing cost to the landlord. Moreover, should you change your mind and decide that you don’t like the system for any reason, you can simply return the meters and we will refund your deposit.
Time & Effort: There’s little doubt that the time and effort you put in will be less than if you were using Digicard or coin meters. But should you buy these meters and run them yourself, then you will still need to spend some time managing them:
Although problems are rare, Meterpay wish for tenant issues to be routed through the landlord. So you may find yourself acting as “piggy in the middle”;
Not to mention that the Meterpay back-end interface can be a little intimidating to first time or non-tech savvy users;
Moreover, Meterpay and Stripe only integrate with the Xero accounts package which costs around £26 (incl VAT) per company per month plus the cost of bank feeds. If you don’t use this integration, then you will be needing to manually enter your payments into your accounts every time that any tenant tops-up;
And due to the Ofgem: The Resale of gas and electricity guidance for re sellers update 14/10/2005, recovering your costs for this can be problematic.
With Landlord Metering, however, all of this is taken off your hands, as we run everything for you. Not only do we manage the back-end of the meters, but we also provide support for tenants in the form of user friendly guides, telephone support and an exclusive website. Due to our specialist expertise, we can often resolve issues without involving Meterpay, but even when we do, it will usually be sorted without your even being aware. And you will get a single payment directly into your bank account at the end of each month for the full cost of the electricity used by your tenants in each building.
Landlord Support: Meterpay offer great support on technical issues. However, we aim to always deliver excellent support not just on technical issues, but also commercial matters. For instance, we provide exclusive easy installation guides for landlords who choose to fit the meters themselves, advice on providing advice on dealing with suppliers, regulation, etc.
Our founder, Gary Wernick, is a landlord (including HMOs) and a property developer himself, as well as having a long career in the energy market, so he has set up our service especially with your needs in mind. Whether it’s providing advice on dealing with existing suppliers, scouring the energy market to make sure that you and your tenants are getting the best deal or ensuring that VAT in mixed residential/commercial properties is charged at the correct rate, we understand what it is Landlords want and need, and we always strive to provide it.
In conclusion: Choosing Landlord Metering’s solution takes the hassle out of sub-metering, but with less cost.