Often one or more properties within a landlord's portfolio may have accumulated more charges than they have income available to pay them.
In this case, the agency has two choices, which ultimately depend on the landlord's individual preference.
- Treat each property individually, paying charges only where possible.
- Treat the portfolio as a whole and use funds from any property to pay any charges.
By default, a property's charges will only be settled from funds on the same property, even if funds are available on other properties within the same landlord's portfolio.
If one or more properties have insufficient funds to pay their own charges but there are adequate funds on other properties to cover these charges, a checkbox "allow payment of charges from any property" will be shown above the balances.
Ticking this checkbox will reduce the property payout list to a single line which is the sum of all income and all charges across all properties and will settle the portfolio as a whole. Naturally, charges will be paid using their own property funds where possible, and only as a last resort in the final steps will excess income be used from one property to pay another's charges. Income is allocated from the "richest" properties first, i.e. those with most income available.