Case Study - Ashbrook Lets HMO Portfolio
"Working with TCD Energy has been a game-changer for Ashbrook Lets. Their team not only streamlined our utility account management, reducing costs and saving us time and hassle of dealing with multiple suppliers, but they also identified and corrected a significant billing error that we would have never caught on our own. The process was incredibly straightforward—after providing some basic details and historical bills, TCD Energy took care of everything. Within just a few weeks, we received over £5,000 in reimbursements. The level of professionalism, expertise, and attention to detail they brought to the table was exceptional. We highly recommend TCD Energy to any landlord looking to optimise their utility management and ensure they’re not leaving money on the table."
John Barrett - Director
Ashbrook Lets HMO Portfolio
£5,650
VAT Overpayments Reclaimed
20%
Annual Cost Reduction
Area: Recovering Energy Supplier Overpayments
Recognising the complexities of utility management across multiple properties, Ashbrook Lets reached out to TCD Energy for a complimentary energy account audit.
Ashbrook Lets, a respected member of the Landlord National Purchasing Group (LNPG), manages a portfolio of Houses in Multiple Occupation (HMOs). Recognising the complexities of utility management across multiple properties, Ashbrook Lets reached out to TCD Energy for a complimentary energy account audit (offered to all LNPG members) seeking to streamline their account management and ensure the accuracy of their utility billing.
Ashbrook Lets was concerned about the potential for over-billing and the complexity of managing multiple utility accounts across their HMO portfolio.
Ashbrook Lets was concerned about the potential for over-billing and the complexity of managing multiple utility accounts across their HMO portfolio.
With varying suppliers, tariffs, and billing practices, the company needed expert assistance to ensure they were being charged correctly and to explore opportunities for cost savings.
TCD Energy took on the challenge of investigating potential solutions to reduce the utility costs and admin burden associated with managing the portfolio's utilities and costs.
TCD Energy conducted a thorough audit of Ashbrook Lets’ utility accounts, focusing on electricity and gas billing for their HMO properties.
The audit process included streamlining account management. TCD Energy consolidated Ashbrook Lets’ fragmented utility accounts, simplifying management and providing a single point of contact for all energy-related matters. Additionally, TCD Energy secured cheaper ongoing tariffs for the entire HMO portfolio, resulting in immediate cost savings.
Identifying supplier mis-billing during the audit, TCD Energy identified that two of Ashbrook Lets’ properties had been incorrectly charged VAT at the standard rate of 20% instead of the reduced rate of 5%. This reduced rate is applicable to HMOs and other specific types of residential premises operated as a business.
Leave it to TCD Energy to handle...
Within three weeks, both suppliers had reviewed their historical billing records and recalculated the charges based on the correct 5% VAT rate. As a result, Ashbrook Lets received reimbursements totalling over £5,000.
This outcome not only corrected the over-billing but also reinforced the financial integrity of Ashbrook Lets’ utility management, ensuring that similar issues would not occur in the future.
Success!
Within three weeks, both suppliers had reviewed their historical billing records and recalculated the charges based on the correct 5% VAT rate.
As a result, Ashbrook Lets received reimbursements totalling over £5,650. This outcome not only corrected the over-billing but also reinforced the financial integrity of Ashbrook Lets’ utility management.
