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Understanding and applying management fees

This article is linked to understanding financials

Management fees in Arthur are regarded as items to be deducted from the rent they are not viewed as a transaction that is individually reconciled

1.How do you want to remit (present your statement) to an owner

  • By owner – This is used where an owner has a portfolio and wants one statement across the whole portfolio
  • By property – This is used where an owner owns a  property and all underlying units e.g HMO and wants a statement by property
  • By unit – This is used where the owner receives a statement per unit

This is linked to the article how to set up you remittance preference

2. Management fees are either applied as :

  1. As a % of rent received
  2. As a % of the rent charged
  3. As a fixed amount

3. Management fees can be applied as:

  • Recurring transactions (in most cases)
  • One-off transactions

4. Management fees can be applied at

  1. Property level
  2. Unit level
  3. Tenancy level

The advantage of adding them at the property or unit level is that they don’t have to be applied every time you add a tenancy

5. How to apply a management fee at the point of remittance 

When adding the recurring charge ensure the tick box At remittance.  The advantage if fees are applied at remittance is a less crowded owner statement. This can be done either

  1. Adding a tenancy
  2. Retrospectively via add recurring screen

 

Retrospectively

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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