So far, we have created a tenancy on a property, and recorded the rent due from the tenant. In the process a property management fee was applied to the landlord for this property. In this step we'll see how the landlord's statement reflects these transactions and then make a payment out to the landlord to settle his account for the current period.
View the landlord statement
The current landlord balance may be viewed on the property or landlord overview screen, along with a link to view the statement detailing the full breakdown of that balance. The statement provides a full breakdown of all financial activity involved in that balance, over a defined period.
The statement can also be viewed from the landlord screen via Landlord > Financial > Reports and Statements > Landlord Statement from the inner menu.
- Go to the landlord overview screen.
- Click the View Statement key action button, or from the inner menu click Financial > Reports and Statements > Landlord Statement.
- The statement will be shown on screen for the default period, the current month.
- You can choose to print or email a PDF version of statement via the respective Print (PDF) and Email (PDF) key action buttons.
The statement for this example will show rental income from the tenant, a property management fee being applied, and the letting fee which was also applied automatically when creating the tenancy. You can also apply your own agency branding, e.g. your own custom letterhead, to these statements, and other documents generated via the system.
Pay the landlord
The statement shows a balance due to the landlord, so the next step is to actually make that payout, settling up any charges from available rental income in this case.
- Go to the landlord overview screen. Payouts cannot be made from the property view.
- Click the Pay Landlord button in the key actions on the right.
- The landlord balance page shows the income and charges for this property, and a total overall balance. In this example, there is £2000.00 of rental income in the client account, and £450.00 of charges due to the agency's office account (a £250.00 letting fee, and a £200.00 10% management fee relating to the rent receipt), hence an overall balance of £1550.00.
- Tick the Pay All Charges checkbox to pay the outstanding charges from the available rent.
- Provide details of the payout, or leave the defaults in this case.
- Click Save.
Viewing the landlord statement again will reflect this payment and reduce the balance due to the landlord accordingly.