A landlord balance will accrue as rental income is collected on his behalf by the agency. Similarly, management fees will automatically be applied to his account in line with your agency's management fee structure, and ad-hoc fees may also be applied to his properties, e.g. tenancy letting fees. All of this activity will result in an overall negative or positive balance on the landlord account at any moment.
If the net balance for a landlord, across all of his managed properties, is greater than zero, i.e. money is owed from the agency to the landlord, then the payment may be processed via Accounting > Landlord Payments.
It is also possible to make a payment for a single landlord directly from the landlord view if a balance is due by clicking Pay Landlord.
Viewing landlord balances
The landlord payment screen shows all positive landlord balances on the current date by default, but the balance date may be changed to see the balances on another date.
Landlords are shown on the left-hand pane along with their overall balance due and details of the last payment made to them. Clicking any landlord will highlight that row in green and show a detailed breakdown of that balance by property on the right-hand pane.
An email icon beside a landlord indicates that they have an email set so that a statement may be automatically sent to them if required.
Making payments to landlords
You may choose to pay all landlords in full, or just select individual landlord records and decide to pay just those landlords, by clicking the appropriate Pay Landlord in Full button. Alternatively, you may manually edit each landlord and property record to manually enter the desired payment value.
From the payment details form in the bottom right, provide details of the payment mechanism and date, and decide if statements should be sent by email if appropriate. If none of the landlords being paid have an email address set (denoted by the email icon against the landlord name in the left-hand list), then the Email Statements option will not be present. If sending emails you may provide your own covering text, as well as choosing a branding template from those defined on the system.
When a payment has been submitted it may be accessed later via Reports > Accounting and selecting Landlord Transactions if a single landlord was paid, or Landlord Quick Transactions for those payments which were made to more than one landlord.