Here's the concept – landlords make money, tenants save money and property managers look like heroes.
I have recently come to learn about digital solar. It is a whole new concept and one I just had to know more about.
A landlord can generate revenue from solar energy on their investment property and provide the tenant with cheaper, clean power.
Previously, it has not made financial sense to pay for solar when the tenant was the only one to benefit... until now.
An Australian tech startup has created a world first technology service that monitors solar on your investment property and automatically generates a bill for the tenant. It appears to be a win-win scenario.
Property investors could earn five times the cost of their solar panels and save their tenants on average 20 per cent off their energy bills (estimated at around $300 annually).
Digital Solar is said to return $5 for every one invested.
Quick payback: 4 - 6 years for most properties.
Consistent income: A 25 year revenue stream from your roof.
Low maintenance: Constant monitoring of your investment
So how does it work?
1. The owner and tenant can complete a simple online calculator to see if there's a business case.
2. If you then want to proceed you are helped to choose and install the right system and set up the solar monitoring technology.
3. The digital solar company claims the beauty is in the metering; billing and payment collection is all taken care of and the solar income is remitted to the owner with the normal rent via the managing agent.
With returns improving over time, this low maintenance asset could be a game changer for property investors who want to increase their returns, attract happy tenants and do their bit for the environment.
For more information on how you can save help your landlords earn more from their properties and save tenants on their power bills, please visit: Smartmatter.com
Sarah has over 20 years’ experience in property management on Sydney's Lower North Shore. She previously managed a large property management department for eight and half years until mid last year when she made the decision to team up with an ex-colleague of hers, Jaala Cusack, and open her own boutique property management business called Latham Cusack Property Services. Based in Cremorne, they manage properties along the Lower North Shore. Their main focus is to offer a more personalised and proactive style of property management – one dedicated to listening to and meeting their clients’ individual needs.