What's adjusted at settlement — and what isn't
| Service or charge | Adjusted at settlement? | How it's handled |
|---|---|---|
| Council rates | Yes — pro-rata | Adjusted on the settlement statement; the seller pays up to settlement, you pay from settlement onwards |
| Water service charges | Yes — pro-rata | Fixed supply charges adjusted on the settlement statement |
| Water usage | Yes | A meter reading is ordered before settlement so the seller's usage up to settlement is credited to you |
| Strata / body corporate levies | Yes — pro-rata | Adjusted on the settlement statement across the levy period |
| Electricity & gas | No | Personal accounts — the seller closes theirs; you open a new account from settlement day so power and hot water are on at handover |
| Internet / NBN | No | Doesn't transfer with the property — arrange a connection with an internet provider ahead of settlement, as broadband can take time to connect |
| Solar feed-in tariff | No | The panels stay with the home, but the seller's feed-in tariff plan doesn't — set up your own electricity plan |
Gas, electricity, internet and similar services are 'personal' utilities. New owners arrange connection of these individually, and adjustments are not made at settlement. As a rule of thumb, the seller disconnects effective the day after settlement and you connect from settlement day, so the property is never left without power or water during the final inspection or key handover.
The settlement statement summarises the financial breakdown of your transaction, and adjustments for rates, water and other charges ensure both parties are fairly compensated for costs before and after settlement.