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Reconciling letting agent statement that includes costs

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Joined: Sat May 04, 2019 4:21 pm

Reconciling letting agent statement that includes costs

Postby lucyscrann » Sun May 12, 2019 1:01 am

Hi, wonder if someone can help please!

We have a number of fully serviced /managed properties through different letting agents.

On their invoices they will include any incurred costs such as plumbers, information boards etc.

They deduct these costs from the rental income - so we will only ever receive the rental income less costs incurred. To illustrate

Rental income £1040
Management fees £133
Costs - 35.13
Monies paid to us - £872.87

When I view the agency statements and try to reconcile with the bank statements - it is only showing the rental income less management or admin fees.

What is the best thing to do in this position? How can I include the associated costs on the statements? Or is there a better way of doing this?

Many thanks in advance

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