Further to the article on Utility Warehouse found here, there have been some important updates to their stance on rented properties.

Due to continued growth and success of the Utility Warehouse within the domestic utility market, Telecom Plus Plc (the company behind UW) has now stated that rented properties are a segment of the market where they are potentially losing money. Mainly due to the fact that; 1) there is a much larger admin burden for this type of customer, 2) They tend to take lower margin services, and 3) they have the highest bad debt record of the customer base.

As a result, new tenanted properties are now required to take a £100 deposit for every service taken, which is obviously not something a tenant is going to be prepared to do.

So is this opportunity dead for Landlords?

Easy answer to this is – No.

Many investors have been introduced to Utility Warehouse though other property investors, as it was a great bolt on business by adding a small amount of residual income to their current property portfolio. However by just adding say 20 or so properties, the income generated from these will not excite many investors.

Even though the introduction may have been through property, the true benefit of this opportunity comes from building a much larger business through word of mouth recommendation to others. So the recent changes within UW’s strategy will further concentrate people’s effort in bringing in high quality customers into the business which will guarantee the longevity of both the company’s continued growth and also their own Utility Warehouse business.

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***Important Update on Utility Warehouse – please read***

A growing number of both landlords and letting agents are signing up as distributors with Utility Warehouse, to increase their rental profits and reduce property portfolio administration. Reportedly over 300 letting agents a month are joining the business, together with hundreds of private landlords as well.

So why are they joining?

By signing up as a distributor, landlords and agents can then earn a small amount of money from each customer they introduce to the Utility Warehouse, both as a one-off sign-up bonus, and also as residual income as a % of their customers utility spend each month. This essentially allows landlords to earn extra money from their existing portfolio merely by switching utility provider of their rental properties. For letting agents the benefit is much greater, as they can introduce many more customers through their portfolio of managed properties.

Utility Warehouse (the trading name for Telecom plus Plc) is based around a network marketing business model, so doesn’t advertise itself, it relies on word of mouth recommendation. Signing up as a distributor, is essentially setting up your very own Utility Warehouse business, which many property investors treat as a stand alone business in itself, even though it started as a simple bolt-on addition to their current property business.

The business potential

The business becomes interesting when you consider that, due to the network marketing model used, you can earn income, not just on your own personally introduced customers, but also on those customers of other distributors which you introduce to the Utility Warehouse business opportunity. Plus the fact that market share for the company is less than 2% of the UK market there is huge potential for growth, many people believe that the business has just reached it’s ‘tipping point’ and will grow exponentially over the next few years.

The benefits

The Utility Warehouse supply the whole range of utility services, including telephony and broadband, which are all charged on one single monthly bill. With all services provided by the same supplier, the time involved in tenant changeovers are vastly reduced, as the agent or landlord can make one quick phone call to switch all utilities.

Once a customer, the tenants are then also encouraged to recommend the services to their friends and family, by the offer of a discount on their own monthly bill. These customers who are signed up through existing customers are also attributed to the landlord or letting agents who introduced the initial customer.

With added bonuses of free utilities, the chance to win a Mini, and award winning products and services, it is not going to be long before the Utility Warehouse is a household name.

For any property professional interested in knowing more about how they can benefit from either joining the business opportunity or simply by becoming a customer, more information can be found here;

Utility Warehouse Business Opportunity

Products and Services from The Utility Warehouse

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