How to handle your find only agent fees on your first months rent

This article is where a find only agency fee is applied to the first month rent. This article is also linked to where  agents collect rent on an on going basis

This can be done either:

  1. At the point of adding a tenancy
  2. Retrospectively if not done during add tenancy

The last part of this article shows how to add a management fee if applicable for this rent held by the agent as their commission

1. Adding a tenancy

When adding a tenancy you will create two transactions on page 4 of the add tenancy screen

  1. 1st months rent
  2. Agents fee (analysis code for this is “Head Agent commission”

 

 

Go to te tenant statement and you will see both transactions there

Allocate the head agent commission to the charge

 

 

2. Retropsectively

Go in to the tenancy>statement>add transaction (Head agent commission)

 

Management fee

If a management fee is applicable because the owner has to be charged for this rent that eefctively is not received, simply add a transaction “Management fee” payable by the owner. This will add your fee to the owner statement

 

 

 

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