Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
Most savvy landlords will have negotiated with their energy providers, so that in between tenants the tariff automatically reverts to a zero tariff. This was not advertised widely for obvious reasons. It avoids annoying bills for 46p (or even £2.46!) to cover standing charges for a couple of days. It also means that if you are renovating for a couple of weeks you pay just for the energy that you use whilst you are doing that. Some companies overlook small amounts anyway – but not all and in any event it can take an extra ten minutes on the phone whilst organising the changeover of tenants.
I have just discovered that two of the providers that I use SWALEC and British Gas are abandoning this tariff, even for landlords, even for short periods, because of the new legislation. If I can find one provider who will continue with this then I will transfer all of my accounts across my whole portfolio, as it is just such a pain. It is not just the money, as the smaller the amount the more irritating it becomes, wasting paper, postage and time etc
I recently put up a BTL property for sale and if this had been in place it would have cost for every week that it was on the market. The other option would have been to cut off all the supplies, leaving the new owner (or tenant if applying it to void periods) to pay a huge re-connection fee.
I think it is disgusting that over the last few years the rules have changed so that we now have to pay for Water Rates, Council Tax and the latest – energy bills – when the place is unoccupied and even, in some cases, uninhabitable. I can’t see that this battle has been fought and it cannot be right. Can it?
Has anyone found a company that will continue to overlook small amounts between tenancies or who will continue with the zero tariff?
If one of them chooses to do this then I think it will be a winner.
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