Model Bucket

Manage rental property transactions - approach to tracking funds collected & disbursed, and applying agent fees

This is a simple form and process to manage tenants in rental properties holding deposits, working in multiple currencies, tracking monies collected and disbursed.

We've used this successfully for a years to support our side-business managing rentals; satisfying our landlord customers with periodic reporting and keeping our numbers in order and transparent.

This model provides one with the basics for managing a property on behalf of another (e.g. it is for the agent).

The model shows how to handle various typical situations:-
- collecting rents, common fees, etc.

- charging fees for services

- transferring money between cash float and accounts

- currency conversion

- tracking what is on deposit

- demonstrating that rent has been collected from all tenants

- reconciling with bank statements

- tracking outstanding fees due to the agent

- tracking situations where the agent is funding the landlord.


Periodically, one starts up a new sheet, setting opening balances from the previous sheet. At the end of a reporting period, the sheet (or workbook) can be sent to the landlord.

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eahofer

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