Make payment out to a landlord

A landlord balance is effectively the sum of funds collected and held by the agency for payment to the landlord, minus charges due from the landlord to the agency and/or maintenance suppliers.

Overall balance = client account credit - fees/expenses due to the agency/suppliers

This is outlined in the detailed article on understanding landlord balances.

Payment can be made to a landlord so long as there is money available for payout in the client account on any of that landlord's properties. 

If charges are due from the landlord's properties to the agency, even if these exceed the amount held in the client account, a payment can still be made. In other words, the landlord may be paid out all his rental income and leave all charges unpaid for payment at a later date, if required. However, most agencies will ensure that they pay outstanding charges from a landlord's available funds before making a payout. 

Payments must be made to a landlord, not to a property, although it is possible to just make payouts in relation to one property if required. The Pay Landlord button is only shown on the landlord overview, not the property view.

STEP-BY-STEP

1. From an individual landlord view, click Pay Landlord. This button will be hidden if no funds are available for payout.  
2. Alternatively, you can access the payout screen for all landlords via Accounting > Landlord Payments and selecting a landlord from the list.
3. The landlord payout view shows the breakdown of all funds available for payout from the agency versus all charges due from the landlord to the agency. 
   
   
   
   
4. By default this form shows the balance on the current date, but you can change this date to view the balance on any date in the past.
5. Quite often the agent will simply want to pay all outstanding charges and pay out the remainder to the landlord. In this case, simply click Settle In Full. 
6. You can opt to pay all charges on some properties and not others by ticking the Pay All Charges checkbox against the relevant property(s).
7. You may choose to ignore the charge balance and pay out the full credit balance available in the client account if you so wish, although most agents will prefer to clear outstanding charge balances from the available funds first. 
8. The total payment value will automatically update in line with your choices on the payment form to reflect the actual balance to be paid out.
9. Complete details of the payment date (must be on or after the balance date, and cannot be in the future), bank account and payment method, and include any references. 
   
   
   
   
10. If the landlord has an email address set, you can tick the Email Statement checkbox to automatically send a statement to the landlord. 
11. The screen will automatically reload the full list of balances payable to all landlords to allow you to quickly choose another and repeat the process.
12. A quick link to the landlord statement for the landlord paid immediately prior will be shown for convenience and will open the statement in a new window if clicked.

Once a payment has been submitted it may be accessed later via Reports > Accounting > Landlord Transactions.

RELATED ARTICLES

• Pay properties using funds from other properties in the portfolio
• Delete a landlord payment