Management Type - Guaranteed Income

To set a property to ‘Guaranteed’ click on the ‘Ownership’ tab within a property record.

 

The following window will appear.

In this window, click on ‘New Owner’ to attach a Landlord, this will open up the ‘Ownership’ window  

 

Click on the little box at the side of the Landlord field which will open up the contact list.

From here select the Landlord by clicking on the line once to highlight in blue and click ‘Select Contact’ – this will bring you back to the ‘Ownership’ window and will have prefixed the Landlord – click ‘Save’

 

You are now back to the ‘Property Ownership’ window, you now want to select ‘Guaranteed Inc.’ from drop down list and make sure the following fields are completed –

 

Start & To Date: This is the date you started the agreement with the Landlord and date due to finish

Guaranteed Rent: The amount you are paying to the Landlord each month

Next Due: When the next payment is due to the Landlord

Frequency: How often the Landlord is paid (Weekly, Monthly etc.)

Rent Nominal: This is from ‘4000’ range

Rent VAT: ‘9’ is non vatable – ‘1’ if vatable

Purchase Nominal: This is from ‘5000’ range

Purchase VAT: ‘9’ is non vatable – ‘1’ if vatable

 

Once all fields have been entered click ‘Done’ then ‘Save & Exit’ from the property record

If you also charge a management fee – Please note that the system will not generate this automatically and you will need to do this, every month.

 

Automatic management fees will only be created when a property is ‘Fully Managed’.

Go to ‘Landlord’ module and click on ‘Landlord Invoice’ and the following window will appear.

 

Enter details as example then ‘Post’ – this will need to be repeated each month

 

To create a landlord statement, the Landlord record ‘Statement by’ needs to be set at ‘Individual Properties’ (see below).

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