Real Estate Investor Magazine July/ Aug 2020 July 2020 | Page 28

MANAGING
The new
buyer
equation
Incentivising property
development with submetering
solutions
R
eal estate has a new frontier to explore, one defined by
lockdowns and the impact of the pandemic. As people
slowly emerge from lengthy stays behind closed
doors, their priorities and approaches to home living and
purchasing have changed.
Across the world, there has been a trend towards
investing into properties that offer more than just the usual
four walls and accessible parking. In many countries, the
cost of living has dictated a change in approach in both the
rental and purchasing markets. People want better quality
of life at an affordable price.
“In Europe, London and Paris, the cost per square meter
for real estate has become prohibitive and this trend is
echoed in other major metropolitan areas such as New
York and parts of Austria,” says Michael Franze, CEO of Citiq
Prepaid. “However, they’re not adding value on top of the
price tag. People are moving outwards towards areas that
allow for them to have more space, better quality of life,
improved value offerings and incentives. And real estate
companies have been paying attention.”
The new buyer equation that has emerged is both simple,
and expected: affordable prime real estate plus value-added
services equals a better quality of life. So, what should the
industry do? Pay attention. Invest into solutions and systems
that make it easier for the tenant to choose their property
over another, and more valuable for an investor to take on
their development than any other. Solutions that can shift
the goalposts closer towards improved experiences, less
admin and more freedom.
“Prepaid sub-metering has gained traction in the
market for this very reason,” adds Franze. “Properties and
developments that include prepaid sub-metering systems
for utilities are basically providing investors and tenants
with a one-stop solution that ensures seamless utility
provision using meters and online reporting tools that
ensure visibility into costs, potential issues and usage. It’s a
simple, but effective, tool that adds value to any estate both
easily and cost-effectively.”
Prepaid sub-metering has seen a significant rise in
popularity over the past few years as both tenants and
property owners have recognised how it can ease traditional
pain points when it comes to billing and utility control. This
has spiked again, post-COVID-19, as properties seek to
rebuild their profiles in a sluggish market.
Significant pain points can be managed and tenant
relationships carefully nurtured through the use of prepaid
sub-metering solutions,” concludes Franze. “It can prevent
bill shock, tenant disputes, poor payment problems and
it can potentially catch any issues before they become an
expensive problem. Citiq Prepaid has developed reliable,
high-quality prepaid sub-metering solutions that come with
an online portal, superb call centre support and countless
purchasing options so that any property can boost its
value proposition and meet the demands of the new buyer
equation.”
SOURCE Citiq Prepaid
24 JULY/AUGUST 2020 SA Real Estate Investor Magazine