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Closing a tenancy where there is unpaid rent owed to the owner

In this example, a tenancy is closed and unpaid rent needs to be deducted from the deposit and added to the owner statement.

The way that the closing tenancy works is that it credits the deposit to the tenant statement – so when this is allocated to any outstanding rent the credit allocation does not reflect in the PO statement. To reflect this unpaid rent owed to the Property owner a manual tenancy receipt is created to be paid to the Property owner.

 

For Xero users

On the tenancy side, the closing tenancy will look like a deposit credit allocated to the outstanding charge.

On the owner side, this will look at your normal tenancy receipt ( bills ) on Xero on the Property Owner contact and will be reflected as any other rent received

 

 

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