Passing a Deposit held with a Protection Scheme back to a Landlord.

Occasionally, it may be necessary to pass a deposit that was held with a Protection Scheme directly back to the landlord.

To do this, you must first create a ‘Tenant Expense’ under Expenses.

  • From a Letting – ‘Property Expenses’ from the ‘Quick Links’ menu on the right.
  • From a Property – ‘Expenses’ from the 'Lettings Menu’ on the right.

Once at expenses, click the ‘Add’ button and input how much you will be passing onto the landlord from the deposit held at a protection scheme.

There are two key things to remember here:

  1. Select ‘Tenant Expense’ from the ‘Expense Type’ drop-down list. Select the tenant who’s deposit you will be passing back to the landlord.
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  2. Tick the ‘Pass Tenant Payment To Landlord’ box.
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Now you’ve done this, you can record the payment coming from the deposit held at the Protection Scheme.

Go to the Letting>Tenant Receipts from the ‘Letting Menu’ on the right. Click ‘Add’ and enter the amount you will be passing to the Landlord from the deposit held at the Protection Scheme.  

1. Select ‘Deposit Scheme’ from the ‘Received From’ box.
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Once you’ve added this receipt, the system will ask you where to allocate the funds that have come in, you should allocate them against the tenant expense we made earlier on.

Finally, when you generate a Landlord statement, the money will be credited to the Landlord. 

 

 

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