Since the introduction of the property industry reforms in 2020, residential tenancy agreements have included the requirement to inform tenants if the property is part of an embedded network. So what exactly is an embedded network??
Embedded networks are typically found in apartment complexes and community schemes. Embedded electricity networks are privately owned and managed electricity networks that often supply all premises within a specific area or building. Embedded networks generally buy electricity in bulk and then on-sell it to customers inside their network.
You need to know if the property you are managing is part of an embedded network when filling out a residential tenancy agreement.
We are finding that a lot of agents are ticking yes when the property is not actually part of an embedded network.