Efficient utility management: 3 expert tips for commercial property owners

Managing the utilities of your commercial property can often feel like a juggling act, but with the right approach, you can streamline the process and ensure you’re getting the best value for your money. Here are three top tips to help you stay on top of your utility management:

1.Embrace Online Utility Accounts: Setting up your online utility accounts might seem like an initial hassle, but it’s a small investment of time that pays off in the long run. By managing your accounts online, you can bypass lengthy phone calls and submit your readings with ease. Make it a habit to submit your readings on a monthly basis, ideally at the same time each month. This consistency ensures that you’re accurately billed—not too much, not too little. Plus, it eliminates the risk of facing unexpected charges when you move out of a premises. By staying on top of your readings, you gain peace of mind and avoid any unpleasant surprises down the line.

2. Secure Favorable Contracts: It’s essential to ensure that you’re on a contract rather than being stuck on deemed rates. Deemed rates can quickly inflate your utility costs, costing you a considerable amount of money in a short period—even just slipping into deemed rates for a month can have a noticeable impact. Stay proactive by creating a spreadsheet to track your contracts and set reminders in your diary for when you’re nearing contract renewal dates. This approach empowers you to explore better deals and avoid unnecessary expenses. With current utility prices fluctuating, securing favorable contracts is key to maximizing your savings and minimizing your overheads.

3. Tap into Broker Expertise: Consider enlisting the services of a utility broker to help you navigate the complexities of utility contracts and secure the best possible price. Utility brokers have the expertise and industry insights to negotiate favorable terms on your behalf, saving you time and money in the process. By leveraging their knowledge and connections, you can access exclusive deals and optimize your utility costs. With a utility broker by your side, you can rest assured that you’re getting the best value for your money and keeping your utility expenses in check.

Are you tired of managing utility contracts on your own? Let Portland Estates Management take the stress out of utility management for you. Contact us today at 01642 616616 or [email protected] to discover how we can negotiate your utility contracts and ensure you’re on the best possible tariff.