PaTMa’s goal is to simplify property management. So that no matter how many properties you have in your investment portfolio, you’re always in control. The profitability of your portfolio depends on numerous factors from location to renovation costs to simply being in the right place at the right time. But sometimes, the little things can make a big difference. Like setting up the energy supply in a new home. If you pay utility bills on your tenants’ behalf, you may find that gas and electricity costs can eat into your all-important profit margins. Being proactive in setting up energy in a new home can not only help you save money but reduce your carbon footprint across all your investment properties.
Why is setting up energy in a new home important?
As soon as you are responsible for the energy of a new home, you could potentially start losing money. You’re automatically put on a “deemed contract” with whatever supplier the previous occupant used. This invariably means that you’re on a default variable rate tariff. These aren’t always the most expensive… but they usually are.
Our friends at Switch-Plan can help you to find the perfect energy deal for your new home. They can trawl the market to find the perfect energy plans across all your properties so that you can maximise your profits at scale. The more properties in your portfolio, the bigger your potential saving!
How much could I save by switching suppliers?
The Money Advice Service estimates that the average household can save £300 per year by switching suppliers regularly. Energy watchdog Ofgem recommends switching suppliers every 12-18 months. £300 extra profit per property per year is certainly a prospect worth considering for any investor. Especially when it’s potentially so quick and easy to switch.
But what about the Ofgem Energy Price Cap?
You may already be familiar with the Ofgem Energy Price Cap. This ensures that energy costs never exceed a set amount per year across gas and electricity. At the time of writing, the Ofgem Energy Price Cap is set at £1,042 per year, although this may rise in April 2021.
Although this price cap is certainly a good thing for energy consumers and investors alike, there are many energy tariffs that are significantly below it across both fuels.
Can setting up energy in a new home really make my investments greener?
As well as finding you a cost-effective energy tariff that’s significantly lower than the Energy Price Cap, our friends at Switch-Plan can also help you to make your investments greener by finding you a 100% renewable energy tariff. There are lots of plans out there that can reduce your portfolio’s carbon footprint by around a tonne per year, per property.
All while saving you money!