Fees and Expenses are fees applied to the landlord account in relation to the selected property.
In general Fees and Expenses differ in that Fees generate revenue for your letting agency whereas Expenses are simply costs that you wish to pass on to the landlord. If your letting agency is VAT registered then a further difference is that Fees will attract VAT whereas Expenses will not.
Recurring Fees or Expenses can be applied to the landlord account associated with a property, for example a flat fee for maintenance that was charged to the landlord every month.
To apply a recurring Fee or Expense go to the relevant property > Fees/Expenses then complete the information within the Fee Schedule.
When applying a Fee or Expense the following fields must be supplied:
Fee / Expense
When these fields have been populated click on the Add button to add the fee / expense schedule.
- Newly added schedules will not apply fees or expenses retrospectively, regardless on the Start Date.
- The deletion of existing fee schedules will not delete fees that have been already been applied.
Fee / Expense
Fees and expenses differ in that expenses do not form a source of revenue for your letting agency. As a consequence sundry fees will be listed in the management revenue report whereas expenses will not.
The value of the sundry fee - a numerical value.
This is the date on which the sundry fee was applied.
A description of why the sundry fee was applied.