There are a couple things apartment renters should consider when looking for the best energy plans. Often times the plans that would work well for an average to large size home aren’t the best energy plans for apartment renters. Let’s dive into some of the things you should be familiar with so that you can maximize savings and pick the plan that’s best for you!
Can Apartment Renters Pick Their Own Provider?
If you’re in charge of paying the utility bills at your apartment, know your options! Often times, when you move into an apartment they will push one provider on you. DON’T FALL FOR IT! Apartment complexes have partnerships in place where they receive commissions when tenants select providers they work with. However, these companies and plans might not be best for you. These plans are often more expensive since they know the apartment manager is pushing the plans as the apartments “Preferred Vendor Option.” Many tenants just assume they only have one option for their provider. Knowing your rights as a tenant can save you hundreds of dollars in yearly utility bills.
Where to Find the Best Energy Plans Online
Don’t worry we have a solution for Apartment Renters! By using an unbiased platform like UtilityHound.com, you can shop multiple providers and the best energy plans at your apartment. Their system will pull up available options allowing you to pick the lowest rates. They can also help with other services such as internet, TV & renters’ insurance. Talk about cost savings across the board! Simply visit their website, select the plan that’s best for you…their system then directly sets up the service. It’s that easy.
The Best Energy Plans for Apartment Renters
With the energy market becoming increasingly competitive plans have evolved tremendously. Certain plans may look good at first glance but don’t let them fool you. It’s important to know your situation and what plans will work best for apartment renters.
Square Footage and Monthly kWh Usage
Most apartment renters unit sq. footage is around or under 1,000 sq./ft. With that said your usage will be relatively lower than that of a home owner with a 2,000-3,000 sq./ft. home. Therefore, when you’re looking for the best energy plans you should do so with your apartment usage in mind.
Additionally, check the plans for any minimum usage fees. As we mentioned earlier apartments tend to use a lot less electricity than homes. Apartment renters don’t want to sign up with plans that have minimum usage fees. Also, some providers will have different avg. rate pricing for targeted usage amounts. This is also important as you don’t want to be paying a higher c/kwh with your relatively low apartment monthly usage. That enticing kWh rate may only be available for someone using more than 2,000+ monthly kWh.
You’ve probably come across plans offering free nights and weekends. While these plans sound good, be careful not to fall for them. These plans usually come with higher kWh rates outside of the incentivized hours/days. So, unless you’re planning to do your doing laundry, watching tv or making dinner after 10pm…these plans should be avoided. Also, be weary of plans that come with high bill rebate options. Some providers will offer $100 or $200 first month bill credits. The way they’re able to offer “gifts” like this is because the rate is so high. The phrase, “There’s no such thing as a free lunch” applies here. Do your research and find what the best energy plans for you long term are.
Contract Length & Early Termination Fees
Most apartment renters don’t stay in one unit for more than a year. This is why it’s very important when shopping for the best energy plans that you take contract length into account. If you know that you’ll be living at the apartment for 12 months, you shouldn’t look at plans that are 24- or 36-month terms. Similarly, if you know you’re going to be there for 12 months, it would be wise to no look at plans in the 3-6-month range.
Early termination fees for apartment renters should also be taken into consideration. If you’re not sure what your usage is going to be or find the original plan you picked isn’t working. You may be required to pay an early termination fee to change plans. This happens when you switch providers before your contract with the current provider has expired. Be sure to see what the plans state about early termination fees while you’re doing your research on providers and plans.
When Should Apartment Renters Set Up Their Electricity?
So, you’ve found the best energy plans, you’ve decided on one. Now when should you get it set up? Apartment renters should contact/request a provider one week before moving in. With that said, they should select the service to “start” the business day BEFORE they plan on moving into their new apartment. This is suggested so that you know for sure the electricity will be on. The last thing you want is for your movers to get there in 100-degree heat or 20-degree cold temperature and your power to the a/c or heater unit to be off. That would sure make for a miserable moving day!
Can Current Apartment Renters Switch Energy Providers?
Not moving into a new apartment but have found your current plan to be very expensive. Did you sign up with the provider your apartment recommended not thinking you had other options? No worries, you are welcome to shop around and look for a new provider. Companies such as UtilityHound offer free bill audits. They’ll shop current rates and compare them to your old provider. If there are savings it may make sense to terminate your contract with the old provider early.
Do I Need to Notify my Apartment if I Switch Energy Providers?
Nope! You don’t need to let your apartment know that you are wanting to switch energy companies. The electric contract that you enter with a provider is between you and that provider…not the apartment. Simply, find a new company/plan that you like and then have them push through an order to get the service switched. Your billing will be adjusted by the providers with nothing needed from your apartment.