Whether you manage for yourself or for an owner, the month-end statement is where trust is built or lost. It should be possible to check every line against a payment.
What to include
- Gross rent billed and collected, per unit.
- Arrears carried forward.
- Agent commission, with the rate shown.
- Repairs and other costs, each with a reference.
- Net amount paid to the owner, and when.
For taxKeep residential rent on its own line. It is the figure MRI is calculated on, and it should not include deposits held.
Closing the month
Close the month only once unmatched payments are cleared. Hodi then builds the statement from reconciled payments and exports it as PDF for the owner or CSV for your accountant.