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How to add and apply the owner float

Where is the float applied

The float is applied as a transaction

  1. Against a property – This will require the remittance to be at the property level
  2. Against a unit – This will require the remittance to be at the unit level
  3. Across portfolio – This will require the remittance to be at the owner level so it applies across the portfolio – Most common

This is linked to setting your property owner remittance preference

 

When is the float used

Using the float can be at:

  1. The point of remittance (paying the owner and deducting funds from the float)
  2. Directly to the float statement (deducting money directly from it)

1. At the point of remittance

When remitting to the owner you are given the option to deduct a float from the upcoming landlord remittance. This is either done

  • In its entirety
  • In part

To begin this process. Go To Financial > Property Owner Remittance. This is linked to How to remit to property owners and also batch them up to print and remit

  • Applied in entirety by ticking the box below
  • Or adjusted on the next page the process by applying an amount to be added
  • 2. Directly to the float statementAdd a transaction for example of £200 for cleaning and add it as a disbursement charge against the float statement. This will leave the new float balance that can be used on remittance above

    Go to contacts>owner>statement>add transaction

 

 

 

Allocate it to the float

How to create the initial float

Add a transaction to contacts>owner>statement>add transaction “Property owner float receipt” and is held on its own statement called the property owner float statement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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