The netVendor solution, an internet based prepaid water and electricity tokens system is benefiting both landlords and tenants in KwaZulu-Natal.
The netVendor solution is an internet-based, prepaid electricity and water revenue management and vending solution that manages the financial switching of funds, the distribution of top up vouchers and meter related information.
After the eThekwini Municipality introduced a new system whereby landlords, rather than tenants, are responsible for the payment of electricity and water usage, the KwaZulu-Natal property industry has been aflutter with activity with some landlords insisting on double rentals to cover the possibility of unpaid utilities.
To counter such kneejerk reactions, Just Letting, a division of Just Property Group, has become the first company to implement the netVendor solution throughout its network, starting in KwaZulu-Natal, as landlords are anxious about the impact the new system is going to have on their rental properties.
The netVendor solution is an internet-based, prepaid electricity and water revenue management and vending solution that manages the financial switching of funds, the distribution of top up vouchers and meter related information.
End-users, in this case the tenants, can now buy prepaid water and electricity tokens through a variety of avenues: on their cell phone, via the internet, through FNB, or physically at Easypay outlets like Pick n Pay, Shoprite Checkers as well as Unipin outlets such as Nedbank and Spar.
As end-users purchase tokens, bank switching takes place where netVendor receives funds and then transfers these to the relevant body corporate at the end of each month to settle the municipal bill.
Just letting has negotiated a special deal with netVendor, who supply the meters and manage the power supply.
Just Letting and Kairos Consultants, manage the whole process on behalf of the landlords.
“We are offering services which currently no other agency is providing,” notes Carla De Sousa, projects manager at Just Property Group.
De Sousa says they take charge of the entire leasing process, from the property ‘take-on’, which includes property assessment and advice, nationwide advertising and marketing campaigns through to securing leases and many value-added products.
With the new system in place as of 1 July 2012, landlords can now have peace of mind when it comes to the payment of rates as well, the agency says.
“The use of pre-paid meters has so far been successful country-wide, which is why we are so excited to offer it to our clients,” says De Sousa.
De Sousa points out that the benefits are numerous.
For landlords, the direct benefit of such a system is that it avoids tenants running up costly bills and leaving the landlords with exorbitant arrears to deal with.
Furthermore the supply of electricity to the tenants can be controlled.
If the tenants are in arrears, the purchasing of electricity can be restricted until the rent is paid.
Tenants, on the other hand, can be assured that they are not being overcharged for electricity as they are able to monitor their consumption by checking the easy-to-read monitor and adjusting their consumption accordingly.
They are also able to budget in advance so that there are no surprise bills at the end of the month.
The netVendor solution will see a streamlining of the electricity payment process, with clear benefits for both the tenants as well as landlords, says the agency.
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