Reporting and Financials
Who Are Owners / Landlords?
Owners, also referred to as landlords, are individuals or entities that hold ownership of one or more properties. They may manage these properties themselves or hire property managers to oversee day-to-day operations.
In RentAdmin, owners / landlords are key stakeholders associated with properties in your portfolio. The system allows you to manage and organize owner-related information, such as:
- Contact details.
- Ownership percentage (for shared properties).
- Financial reports, including income and expenses.
- This ensures efficient communication and accurate financial tracking for all properties under their ownership.
Whether you manage a single property or an extensive portfolio, RentAdmin helps you stay organized, reduce admin time, and focus on growing your business.
Does RentAdmin Support Multiple Owners / Landlords?
Yes, RentAdmin fully supports multiple owners or landlords for a single property. This feature allows you to:
- Assign multiple owners to a property with specific ownership percentages.
- Automatically divide and allocate income based on ownership shares.
- Generate accurate financial reports for each owner.
- Manage communications and data for all owners seamlessly.
This functionality is designed to simplify property management for properties with shared ownership.
How Are Payments Tracked for Owners / Landlords?
RentAdmin tracks payments for owners / landlords by automatically recording rental income and dividing it according to the ownership percentages. Key features include:
- Income Allocation: Payments are split between multiple owners based on their share in the property.
- Payment History: Detailed records of all payments, including amounts and dates, are stored for each owner.
- Real-Time Updates: Owners can access up-to-date financial reports and track their earnings at any time.
- Customizable Reports: Generate clear and accurate payment reports for each owner, providing transparency and ease of management.
This system ensures accurate and efficient tracking of payments for all involved owners.
How to:
- Add Rent payments manually or approve them in the bank feed approvals screen.
- Go to the Financials page.
- Select the owner associated with the property.
- A list of payments waiting approval to the owner will be displayed.
- Select the payments and confirm them by clicking the "Confirm" button.
- These payments are now allocated to the owner.
- Visit the Reports section to view a summary of the allocated payments.
How Can I Generate Reports for Owners / Landlords?
RentAdmin allows you to easily generate detailed financial reports for owners / landlords, providing transparency and helping you track income and expenses. Here’s how you can generate reports for owners / landlords:
- Visit the Financials Section: Navigate to the financials page to access income, expenses, and payment data for your properties.
- Select the Owner: Choose the specific owner or landlord from the list of property owners associated with the property.
- Choose the Report Type: You can generate various reports, such as income statements, payment history, and financial summaries. Customize the report based on the time frame and other criteria.
- Review and Download: Once the report is generated, you can review the details on-screen or download it for further analysis or record-keeping.
These reports provide a clear breakdown of payments made to the owner, income distribution, and other key financial data, helping both property managers and owners stay informed.
Manage all your properties in one place.
- Landlord reporting tools
- Online property maintenance tracking
- Smart yield calculations
- End of year financial reports
- Multiple owners supported
- HMO and multiple units supported
- And much more