1. Paying guaranteed rent to landlords
Guaranteed rent properties will be credited with the funds to pay out to landlords during the second step of the bulk payment process (clicking on +Transfer guaranteed rent on the Lettings properties > Property balances page).
How it works:
Rent payments received from the tenant will be assigned to the sub-category Rent in (Guaranteed) which will then credit your guaranteed rent balance
Upon clicking + Transfer guaranteed rent, balancing payments are added to the system which draws down your guaranteed rent funds to credit the landlord
Each property will only be credited once its set payment date is reached
For further information on the landlord payment run process, please click here.
2. Viewing guaranteed rent income
There are two ways in which a user can view information relating to their guaranteed rent income.
The balance of guaranteed rent received against the amounts paid to landlords across a set date range can be viewed by navigating to Exports > Bank lines, exporting these for the required date range, and filtering for Rent in (Guaranteed) and Guaranteed Rent transfer to owner
A breakdown of the bank lines can be obtained by navigating to Financials > Reconciliation, filtering by Guaranteed rent on the left, and selecting the Revenue section.
Video Tutorial
We also have a video explaining this information which is available here.