Property management firm JLL required a consultant with an in-depth knowledge of the property sector to help them find a better energy price for their tenants. With hundreds of commercial premises across the UK, JLL were also looking for support managing the ongoing requirements of their complex portfolio.
“Our dedicated property team were able to streamline JLL's tenant recharging processes and uncover issues that would save their clients thousands of pounds thanks to our metering experts' knowledge.”
Inenco was able to create a dedicated JLL account team from our property sector experts. Working closely with JLL to understand the individual needs of their account, we were able to broker a completely bespoke basket deal for their portfolio between JLL and their energy supplier. The deal negated the need for security deposits from JLL tenants yet still enabled them to benefit from flexible purchasing. A 100% renewable deal also helped meet sustainability targets. A dedicated account team is also able to support their ongoing tenant requirements.
One frequent issue for property firms is tenant recharging and resolving complex metering problems that can create significant risk for landlords, with unintentional under- or over-charging a frequent occurrence.
One example is a commercial property that was purchased by a JLL client. Inenco were asked to manage the tenant recharging of the site energy costs, but upon investigation by our account team significant discrepancies were discovered. Tenant sub-meters were recording around 20MWh more than the building’s main import meters. Inenco recommended a site survey, and sent our own metering expert to investigate. We discovered that the sub-meters were incorrectly configured, over-recording consumption by a factor of five. We reconfigured the meters and recalculated tenant recharges to ensure accurate charges were being applied.
Conversely, another sub-metering issue was causing the landlord of a different client to under-charge tenants by thousands of pounds. Inenco worked directly with the facilities manager of the property and sent our own metering team to investigate the problems and survey the property. By correctly configuring the meters to accurately record tenants’ consumption, Inenco was able to identify that service charge needed to be reduced by 50%.
This resulted in cost savings to JLL’s client of more than £27,000 over a six month period. Without this, the metering issues would have continued and both the landlord and tenants would have been subject to significant risks.
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