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