Rent Guarantee - transfer rental income to company/supplier record

Owned by Fiona Hardy
Last updated: Mar 07, 2023
3 min read

This guide has been reviewed against our global client base and classed as relevant to all regions

This guide explains how to set up Rent Guarantee where the rent received from the tenant is paid to a company/supplier record - the rent guarantee is then paid to the landlord, from funds held on the supplier

Setup Rent Guarantee details

1. Setup amount, start/end dates & fee

From the property:

  • Click Rent/Fee Details


In the Rent Guarantee section, enter:

  • Guaranteed amount
    This is the amount of rent guarantee the landlord is to receive

  • First payment date & End date 
    Enter the start and end date of the rent guarantee agreement

    • Rent received inside of these dates will be transferred to the supplier ledger

    • Rent guarantee invoices will be raised for the supplier to pay the landlord

  • Management fee 
    Enter a management fee to be charged on the rent guarantee, if required

If you are entering the details of an existing Rent Guarantee tenancy into the system (e.g. as part of data entry), the Guarantee start date will be the date of the first payment in the system - putting in a date in the past will cause the system to backdate invoices

Create Rent Guarantee invoices

1. Select invoices

From Lettings/Rentals, click Daily Accounts Processes

  • Select Rent Guarantee invoices
    Any properties where there is a rent guarantee payment due today will appear on this screen

  • You can also select a date to include future invoices by selecting a Due Date

  • Create Post to raise the rent guarantee invoices

From the supplier record, to see the invoices raised:

  • Click Transactions

To see a breakdown of the amount to be raised, double click on the line

2. Paying Rent Guarantee invoices

Each time a tenant pays rent inside of the Rent Guarantee dates, the rent will be transferred to the Supplier ledger

To avoid having to manually allocate each receipt, from the supplier record:

  • Right-click Payments and select Consolidate Cleared Funds

  • Click Yes to consolidate the multiple receipts into a single amount

3. Receipt payment

  • Right-click Payments and select Supplier Receipt

  • Click Yes to Allocate now
    The consolidated funds can now be used to pay the Rent Guarantee invoices

4. Landlord Transactions

  • A Rent Guarantee credit will now be on the landlord record, this will be included in the Landlord Payment Run

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