Collect rent, pay landlords, hold deposits, all reconciled
You sit between the tenant and the landlord, which means money flows in on one schedule and out on another, and client money rules say the two can never be allowed to blur. Keeping rent, landlord payouts and deposits reconciled is the quiet daily grind of a lettings book.
Money in, money out, never mixed
Rent comes in from tenants, monthly, on a date set at the start of the tenancy that rarely matches when the tenant is actually paid. A fixed Direct Debit on the wrong day is the first place a tenancy slips into arrears.
The money then has to go out to the landlord, less your commission, promptly and referenced to the right property. Run collections and payouts in different places and you spend the month matching one against the other.
Underneath it all is client money: deposits and rent held on behalf of others, which regulation requires you to keep segregated and account for exactly. A spreadsheet is a poor place to prove that.
The payment mix that fits
Not one rail. The two to four that match how money actually moves here.
Collect monthly rent on a mandate, timed and retried to the tenant's real pay date rather than a fixed calendar day.
For tenants on irregular income, collect within a limit they set so a lean month clears rather than fails.
Pay landlords their rent, net of commission, the same day and referenced to the property.
Hold deposits and rent in segregated accounts so client money is accounted for per tenancy.
Your flow of funds, orchestrated
Rent collects over Direct Debit, timed to each tenant's pay date, with retries after a miss instead of a blind re-presentation. Tenants on variable income collect over commercial VRP within a limit they set. Rent and deposits are held in segregated accounts, and the landlord is paid their share over Faster Payments, net of commission, referenced to the property. Every collection, payout and held balance reconciles per tenancy on one ledger.
Every book moves money differently. We map your flow of funds and quote one integration across the rails that fit.
Related
Payments for lettings and estate agents: FAQs
Rent and deposits are held in segregated accounts and accounted for per tenancy on the ledger, so held client money is never mixed with your own.
Yes, over Faster Payments, net of your commission and referenced to the property, so the landlord's own records reconcile too.
Direct Debit is timed and retried to their real pay date, and for genuinely irregular income, collection can move to commercial VRP within a tenant-set limit.
Tell us how you get paid
Send us the mix of payments you take and make, and we will quote one integration across the rails that fit, priced on your volume.