Statements
Rent received, fees deducted, expenses paid on the landlord’s behalf, and the balance. Per property, so a client with four properties gets four intelligible sections rather than one net figure they have to trust.
Why per property matters commercially
The statement is the main thing a landlord client actually reads. A clear one is the cheapest retention you will ever buy, and an unclear one is why clients start asking what they are paying you for.
The CMP report
Agents holding client money have to belong to a Client Money Protection scheme, and the scheme wants a periodic view of the money you hold against what you owe. The report assembles that from the ledger rather than from a spreadsheet somebody maintains by hand.
What it does not do
It does not replace your accountant or your scheme membership. It produces the numbers; the obligations remain yours.