The simplest method for squaring up a property's charges, or indeed to settle a landlord's charges across his whole portfolio in one go, is to opt to pay these at the same time as making the payment out to the landlord.
Allocating money to charges during the payout process
The process for paying a landlord is documented elsewhere, but this article focusses on how to efficiently settle any outstanding property charges during this same procedure.
- From the landlord view, click the Pay Landlord button which will be shown if the landlord has rental income available to pay out on any of his properties.
- A list of properties will be shown, each with its respective income and charge balances.
- On each row, you can tick the Pay All Charges checkbox to automatically pay this property's charges from its available credit balance during the payout.
- To do this quickly across all properties, click the Settle in Full button.
- When all properties have been dealt with in this manner, complete the bank payment details in the form in the latter section of the page and click Pay Landlord.
The charges will now be marked as paid, the balance due to the office ledger by this property will reduce, and the funds available in the client account will reduce (probably to zero) to indicate that all charges have been paid and the remaining balance has been paid out to the landlord.
To complete the process, but not necessary at this stage, is to transfer management revenue from the client account to the office or business bank account where it may be used or withdrawn by the business.