At month-end, or on whatever your agency uses, you'll want to process a payment run to landlords to pay out the rental income, minus your management fees. A crucial, and potentially time-consuming, part of this exercise is preparing statements for your landlords, showing the activity across their portfolios.
In this step, now that you have applied and collected rent, generated property management charge invoices, we'll look at how to generate a statement for an individual property or for an entire portfolio. From that, we'll look at a number of ways for the agency to pay the management charges from available landlord funds, and ultimately process a payout to the landlord.
When that is done, we'll show how you can retrospectively look at reports of receipts, payments, and invoices, for reporting purposes, or indeed if you have made a mistake and need to correct something.