Solar power installed, keep in owners name or tenants?

[MissMuffitt]

OK, it's me again with a curly question
We have been trying to sell our PPoR in Bundaberg for about 2 months now with very little interest.
We have it on the market for $275,000 and above after dropping it from the original $295,000.
We have decided that if we don't get a contract on it by the end of the month, we will have to rent it out as cash flow at the moment does not allow us to keep it empty for very long.
We have at that property a 2.8kW solar system and solar hot water. We have been conservative with our useage and the solar is now in Credit with Ergon by about $35 dollars (No power bill)
What we want to know is, can we put the expected rent up by say $15 a week so from $275 to $290 and put a clause in that the tenant will not get an electricity bill unless they go over a certain kW usage per bill?

I am interested in what others think of this idea. And if we could legally do it is more to the point?

Any advise greatly appreciated.

 

[russellpeter]

I am currently looking into this

I have a friend who Dose it like this

He keeps the water bill in his name and when the bill comes in he gets the tenants to pay the full bill not whats left after the tariff has been taken off

The tenant still gets it cheaper because of the usage during the day comes straight from the grid saving the tenant bout $100 pq

And the owner is happy because he is still getting a return on his investment

Ask your property manager if they are happy to get the bill sent to them and then work out the full bill and charge the tenant

Shouldn’t be any different than water charges

I think this is better than putting the rent up by $10pw

 

[Propertunity]

....keeps the water bill in his name and when the bill comes in he gets the tenants to pay the full bill not whats left after the tariff has been taken off

Shouldn’t be any different than water charges

I know you're in Qld, but under the new Residential Tenancy Act in NSW 2010, if the tenant pays the water bill they also MUST get any rebates associated.

 

[russellpeter]

I Have given the REIQ a call regarding the solar and they are going to get back to me regarding this

good to know about the water rebate

 

[russellpeter]

I Have given the REIQ a call regarding the solar and they are going to get back to me regarding this

good to know about the water rebate

have called them twice now and no will get back to me

will keep trying

 

[Propertunity]

have called them twice now and no will get back to me

Are your membership dues up-to-date?

 

[russellpeter]

yes i think the problem is they dont know

 

[MissMuffitt]

We have tenants!!

Just got a phone call from our PM. She has a family (2 adults and 3 little kids) ready to move in and they are happy with the $290 a week including electricity. I will ring the electricity company tomorrow and get the bill changed to my new address in Nanango.

This is very good news for us, takes the pressure off a lot

 

[russellpeter]

Just got a phone call from our PM. She has a family (2 adults and 3 little kids) ready to move in and they are happy with the $290 a week including electricity. I will ring the electricity company tomorrow and get the bill changed to my new address in Nanango.

QUOTE]

i will let you know what my research turns up as if you could get the full rebate would be great for investors

 

[Louwai]

Just got a phone call from our PM. She has a family (2 adults and 3 little kids) ready to move in and they are happy with the $290 a week including electricity. I will ring the electricity company tomorrow and get the bill changed to my new address in Nanango.

This is very good news for us, takes the pressure off a lot

For a little more expense you could put a 2nd grid connection onto the property.
Have the Solar system dedicated on 1 connection which would be in your name & sent to your address.
The 2nd connection would be a normal connection for the property.

then the tenant gets a standard usage power bill in their name & you get 100% of the credit for your solar system.