Simple Example - A Typical Tenancy

The client accounting features are designed to record and manage the incoming and outgoing payments of the client bank account. A typical managed tenancy will work something like this:

  1. Rent becomes due
  2. Rent Demand (to indicate rent due) and Landlord Invoice (for management/admin fees) is produced
  3. Tenant pays rent into client bank account
  4. Rent payment is recorded and allocated to the relevant Rent Demand
  5. Landlord Invoice is paid from client bank account
  6. Landlord statement is produced showing incoming rent, management fees deduction and payment to landlord of the remainder

Follow the following steps to complete all the above tasks.

Create Rent Invoice

  1. Go to Accounts, Create Rent Demands - you'll see a list of all the rent demands that are due
  2. Tick the relevant tenancy and click the Add Rent Demands button
  3. You'll see the details of a new Rent Demand and Landlord Invoice
  4. Review and confirm the details and then create the Rent Demand and Landlord Invoice

Pay Rent Invoice

  1. Go to Accounts, Receive Rent Payments - this will show a list of all unpaid Rent Demands
  2. Tick the appropriate Rent Demand and click Add Rent Payments
  3. Review and confirm the details and then save the payment

Pay Landlord Invoice

  1. Go to Accounts, Pay Landlord Invoices - this will show a list of all the unpaid Landlord Invoices
  2. Tick the relevant invoice and click the Add Landlord Payments button
  3. Review and confrm the details and then save the payment

Create Landlord Statement

  1. Go to Accounts, Landlord Statements Due
  2. Go through to the tenancy landlord statement page and click 'add landlord statement'
  3. You'll see the rent payment, landlord invoice payment and a suggested payment to landlord.
  4. If it all looks correct, save the statement

You can print off the statement or the landord can see it in in their online account.

Video Guide

Topic: Accounts

About Domus Software

This is article is published by Domus Estate and Letting Agency Software.

Domus is an easy to use cloud based estate and letting agent software for estate agents to manage sales, lettings, accounting and a client portal.

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