In this ever-changing economic climate, it is not unusual for businesses to vacate sites or move into new premises.   However, an often neglected aspect of the moving process is the closing down of your current utility accounts or ensuring the contract associated with your new site is in your business’s name. When contracts are agreed and signed, they are legally binding for the business, the supplier, and the property exactly as listed on the contract.  As such, for the duration of the contract the occupant listed on the contract is responsible for all charges associated with that property and contract.  If said occupant was to vacate the site, the contract becomes null and void.  Imagine moving into a site and automatically assuming the previous occupants costs as they neglected to close their account!

Process

In order to ensure you are removed from being the responsible bill payer for the account at a site you no longer reside in, a Change of Tenancy must first be completed.  Alternatively, if you are moving into a new site, you will want to have your company listed as being the occupant and ensure the previous tenant’s accounts were closed.  As Torse Limited is a full service broker, we would actively encourage you to allow Torse to manage this process, mitigating all utility related pressures during your already stressful time of moving.

A change of tenancy can take up to 30 working days from start to finish.   If you are vacating a site, once the proper details and documentation have been provided to your current supplier and they have been confirmed by them, a final invoice will be issued, effectively ending your legal contract with them.  If you are moving into a site, from the moment the change of tenancy is registered on the current supplier’s systems the previous tenant’s contract becomes null and void, placing your business onto Out of Contract rates. The Out of Contract period is, unfortunately, an unavoidable necessity which must occur in order to transfer the responsibility for this site into your company’s.  Your company will not be able to agree a new contract until the site is placed under your company’s name, whether this contract be with the existing supplier or a new supplier.

Account Management

Your designated Torse account manager will monitor your change of tenancy to ensure as little time as possible is spent on punitive out of contract rates.   Once the change of tenancy has been completed, Torse will produce a bespoke quote for the site detailing a range of options tailored to meet your business needs.  Occasionally, we are able to offer ‘backdating’ where the negotiated contract rates are applied from the date your business took responsibility for the site, negating the expensive Out of Contract rates.  Naturally, Torse will investigate this option for you, however, sometimes this is not possible due to many factors including, but not limited to, expected consumption, rates offered for the new contract, backdating length, etc.  Some suppliers are also only able to provide backdating for a limited period of time; another reason to ensure you make us aware of the change of tenancy as soon as possible.

Bearing all these factors in mind, Torse works on your behalf with suppliers to ensure your needs are met in a seamless and professional manner which leads to you being on the most cost effective contracts for your independent business.

In conclusion it is important to remember that the best way to remain ahead of the energy game is to keep us informed.  If you plan on moving into or out of a site make your account manager aware as soon as possible to ensure no delays or unnecessary stress occurs.