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Part Payment of 1st month rent to letting agent

Software bugs and errors.
royalarcad
Posts:1
Joined:Wed Jul 22, 2020 7:17 pm
Part Payment of 1st month rent to letting agent

Postby royalarcad » Tue May 18, 2021 9:17 am

Our agreement with our letting agent means that the first months rent goes directly to them, they remove a fee for finding and setting up contracts then the rest of the payment comes to us as rent. Is there a way to alter 1months rent after their tenancy has commenced without having to change their contract individually?

roy
Posts:58
Joined:Tue Aug 23, 2016 11:38 am
Location:United Kingdom

Re: Part Payment of 1st month rent to letting agent

Postby roy » Tue May 25, 2021 1:29 pm

Hello

There is no need to alter the first month's rent. Set up your tenancy to have a letting agent and record the fees. This will set the first rent of the tenancy to be payable to the letting agent, rather than you. Record the full rent that the tenant paid on the payment schedule. The software will raise an agent statement where the fees will be recorded. It is on the statement where you can record the payment you received

Please see the following Knowledge base article for more detail about this process

https://landlordvision.userecho.com/en/ ... ord-vision

Kind regards
Roy


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