26 Jan 2021
In a nutshell; clean, simple, not over complicated, all on one page.
We have recently introduced our own bespoke software to handle all the financial elements associated with managing our client's property. The priority for the software developer was to produce a Landlord statement that is both concise and gives all the relevant information that you would expect from an agent.
In case you have any queries, let us explain:
Column 1 Property is the property address
Column 2 Tenant paid to is the date your tenant has paid their rent up to. They should always be one month in advance.
Column 3 Last tenant owed to date is the total arrears up to the date the statement is issued. Please note that a small amount can show in this column even though your tenant is paid up to date due to how the system works out the amount owed to the exact day and months have different numbers of days in them.
Column 4 Balance B/F is the balance brought forward from the previous month if there are any funds owed on that particular address.
Column 5 Rents is all the rents that have been collected since your previous statement.
Column 6 Sundry Expense is any sundry expenses for example lettings fees or returns from deposits or council tax bills that we may pay on your behalf. This is any income or expenditure that doesn't categorise as rent, works, or management fees.
Column 7 Works is all works and maintenance deductions carried out since you last received rent. This will correlate with the invoices stored in our client portal for you to look over.
Column 8 Man't Fees is for the management fees charged by our agency for the management of that property in that month
Column 9 Disbursed is the total funds disbursed out to you for that property since the last statement
Column 10 Balance C/F highlights any funds carried forward to the next month. This could be funds you are wanting to leave with us to cover future works invoice like a new boiler etc.
This statement is uploaded to the secure client portal on the last working day of the month along with any associated invoices. Payments are made to clients on the same day and an email prompting them to log in and view their statement is automatically generated.
We are keen to know if there is any way that we can improve our statements without compromising the concise and easy-to-read objective - Any ideas will be welcomed.
Thinking of working with us? see landlord services for more information.