Most landlords start here
Standing orders into your own bank account are how most lets already run, and there is no reason to change that to use the rest of the product. The ledger cares about what was due and what arrived, not about which rail it arrived on.
What to record
The date the payment landed and the amount. A part payment is recorded as a part payment on that month’s charge rather than rounded up, because the balance still owed is the figure that matters if arrears ever have to be counted. What did arrive goes into Finance as rent received.
What you get from doing it
- Rent receipt PDFs that match your records
- An arrears position with real dates on it
- Figures that flow into your SA105 preparation without re-typing
Moving to Direct Debit later
You can, per tenant, with their agreement. Nothing you recorded manually is lost when you do.
LetCompliance works as a landlord app in the phone’s browser, for the rent, repairs, applications and messages, with nothing to download.
