Not only does solar power benefit the environment, it saves the tenant on electricity bills, making your property even more attractive. Also, according to Queensland legislation, Landlords may be able to claim a bonus.
The Residential Tenancies and Rooming Accommodation Act 2008 provides specific guidelines for a solar bonus. A property owner or Landlord of a rental property can charge the tenant for the quantity of the service supplied to or used at the property.
The RTRA Act does not specify who is eligible for the rebate, but the Electricity Act 1994 does note that the person who has the electricity account in their name is entitled to the bonus.
Negotiate how solar power charges will be managed at the start of each tenancy. You have several options.
One is for the tenant to have the electricity account in their name and they pay the account directly to the supply authority and receive a rebate.
Another is, if the Landlord has the electricity account in their name, they pay the account, receive the rebate, and ask the tenant to reimburse them the full amount. Alternatively, the tenant is asked to reimburse the Landlord the full amount minus the rebate amount. Another option is the Landlord can also pay the account, receive the rebate, and the cost of the electricity service is absorbed in the rent.
Stacey Lee Realty has experienced Property Managers to handle the task of maintaining your investment and ensure your investment is working for you with minimal hassles. Call us today at 07 3399 2966 or visit www.staceyleerealty.com.au