Prepaid Meters and Prepaid Meter Vending
Mr Prepaid offers state of the art, all-in-one solution for prepaid metering and prepaid meter vending. One of the most cost effective and easy to use prepaid electricity/water and metering solutions on the market today.
Ideal for property investors, landlords and letting agents. Suitable for installation in granny flats, individually rented units, shops, stores and sporting facilities. Our prepaid meters are completely managed using SMS and web technology to ensure nationwide 24/7 service.
Prepaid Meter Benefits
Improved Cash flow
- With prepaid meters there are no arrears to collect and the tenants can control their budget to use as much as they can afford.
No Credit and Arrears Collection Costs - With prepaid meters there are no credit and collection issues.
No Deposits - With prepaid meters you don’t need to take deposits for electricity or water from your tenants.
No Monthly Bills - With prepaid meters you don’t need to send monthly usage bills for electricity or water.
No Reconnect Charges - With prepaid meters the electricity is always paid, no need to disconnect and reconnect.
Tenants Love Them - With prepaid meters, tenants can easily monitor their electricity or water use and spend as much as they can afford. This creates a greater awareness and control of costs. It also totally avoids any account complaints about usage.
Eskom Loves Them - With prepaid meters you get energy conservation as it reduces electrical or water consumption when users can monitor their own usage.
Prepaid Meters and Vending Functionality
- All types of meters for all types of properties: residential, commercial and industrial.
- Adding prepaid meter credit via web interface – 24/7 all day and year around
- Adding prepaid meter credit via SMS - 24/7 all day and year around
- Receiving tokens via SMS - 24/7 all day and year around
- Onsite vending option for shopping centers
- Automatic top up functionality for rentals with utility amounts included and electricity or water critical environments
- Anti tamper technology (no tamper option on water meters)
- Landlord management functionality, credit control and reporting with 24/7 web interface.
- Display of consumption on meter in kilowatt/hour
Who Uses Prepaid Meters?
- Landlords that want to make sure there are not arrears on electricity or water.
- Body corporates that want to pay as they use as opposed to per quota inaccurate billing.
- Shops and commercial property owners that want and need tenants to prepay.
- Landlords that have multiple dwellings or rooms and need to bill accurately per usage.
- Companies that provide staff accommodation and need to monitor and/or bill staff for usage.
- Vacation property landlords like Bed & Breakfasts that want to make sure each user pays according to electrical or water consumption.
- Sporting facilities with tennis and squash courts that monitor the usage by the hour, use prepaid meters to switch on and off the courts according to time paid for.
- Managing agents and letting agents that want an easy way to appropriate electricity or water and get rid of difficult billing and arguments about consumption.
- Agencies and charitable organizations that help clients in need to permit them the use of specific utilities.
And this is just the beginning, as prepaid meters are becoming more popular each year customers find greater uses for prepaid meters.
Prepaid Metering for Body Corporates
Many residential and commercial properties are owned in sections or areas by multiple owners, each owner owning one or more sections of the dwelling complex or building structure. In such arrangements there is usually a body corporate that is comprised of a number of owners. The role of the body corporate is to provide governance of the scheme and take care of various environmental and financial issues surrounding the operation.
In such environments it is common for the property to be supplied utilities on a bulk basis. Typically a single meter system is employed to calculate the overall consumption of all the sections and the common property area of the complex or building structure. Following this there may or may not be additional sub meters.
In the case where no sub meters are installed, apportionment of the utility bill is typically calculated using the "participation quota". This method attempts to determine fair apportionment by means of calculating ratios, either by number of persons or squared meter area. As expected, because of differences in people’s utilization habits, this method is rarely accurate and is fraught with problems and subject to frequent disputes and complaints from owners within the scheme.
In the case where sub meters have been installed the situation is better as the meter for each section can be measured and therefore accurately billed. The sum of all the meter readings from the sections can then be subtracted from the bulk meter reading to determine the amount of electricity or water consumed in the common property areas. This can then, once again, be apportioned by means of the "participation quota" method to each section’s utility bill. While the situation where sub meters are used is an improvement in the case where there are none, both situations are not perfect as payment for the utilities charged still needs to be collected once billed.
As is often the case in such schemes, there are people with varying financial means and circumstances. The result is that revenue collection management for the scheme is a task that requires constant attention, sending of reminders, calculation of late payment charges and debt collection. In the interim the body corporate or appointed management agent is still required to settle the utility bill it received on the bulk meter account.
The amount of utility consumed in such situations is generally significant and therefore carries with it significant liabilities. Without the aid of a prepaid metering solution, the financial situation of the body corporate may fluctuate significantly, resulting in contraction of the body corporate cash flow. Since utility bills must be settled in order to avoid discontinuation of supply, body corporates must often divert funds for services or maintenance in order to balance shortfalls.
Over time, this can lead to further problems such as general degradation of the complex or building with subsequent negative impact on health and safety and general upkeep or improvements. Our prepaid metering system is the ideal solution for utilities revenue collection management in body corporate environments. Installed as sub meter devices at the main distribution board located within each dwelling area or section, our prepaid meters can be used to meter and govern the utility supply regardless of whether sub meters are already installed or not. Once installed our prepaid metering system ensures that all owners or their tenants are required to prepay for utilities before being supplied. The result is an immediate improvement in the cash flow of the body corporate. Furthermore, installation of our prepaid metering solution obviates the need for independent meter reading services and the cost associated with the service.
In addition to these benefits, the problem of paying for utility consumption for common property areas of the scheme is also resolved. Because such schemes are typically metered by way of a bulk meter at which the cost of the supply is discounted by the supplier, in order to cover the cost of utilities consumed in common property, each of the prepaid meters installed in the section of the scheme is set to charge for the utilities at the standard rate for that area. This price is not discounted and as a result the difference between the revenue collected from the sections and the bulk account is sufficient to cover the common property utilities. Typically the overall amount collected from the sections, charged at standard rate, is greater than the amount billed at the bulk meter which in most cases results in a slight profit for the body corporate which can be allocated toward upkeep and maintenance of items such as light bulbs, switch replacements, etc.