We do not issue ‘final accounts’ when a property is sold. Prior to settlement of the property sale, the purchaser or their solicitor typically arranges a special water meter reading
(SMR). The SMR service allows the solicitor or conveyancer to identify the pro-rata balance owing (or any credit) on the account at the time of settlement. Any balance owing for the water and sewerage account is typically paid by the seller to the buyer in the settlement. This is in accordance with the REIQ Contract of Sale
The new owner of the property is then responsible for paying the water and sewerage account when the next bill is issued. This may take several weeks or months from settlement date.
If you have any concerns, you can refer to your property settlement statement provided by your solicitor or conveyancer or contact them directly to clarify the terms of your property settlement.
Any outstanding balance after a change of ownership will become the responsibility of the new property owner, as the debt remains with the land, not with the customer.
We have changed how we bill accounts in Somerset and Lockyer Valley to make it simpler for customers to:
- track water usage,
- sooner detect leaks on their property, and
- manage their water and sewerage budgets.
For the April-June 2019 quarter, the change* involves:
- the introduction of a new, simpler meter reading and billing schedule, and
- switching service charges from advance to arrears, to align with water usage charges.
Currently, water and sewerage bills are issued up to seven weeks after water meter readings, meaning leaks can go unnoticed for long periods of time wasting water and money.
After the change*, this will be closer to seven days.
For solicitors and customers looking to calculate property settlement figures, the change also means a new way to calculate a Water Cost Estimate*.
Under the old way of billing, water and sewerage service charges were fixed, i.e. Tuesday 01 January 2019-Saturday 31 March 2019; however, under the new, simpler way, this is no longer the case.
Simpler Billing means service charge periods now start from the same date as the last meter reading date.
To calculate the unbilled service charges a vendor is responsible for, simply multiply the number of days between the last meter reading and the settlement date.
*For Lockyer Valley and Somerset accounts ONLY