Landlord Payment Tracking

Audience: Property Managers

Expected Payment Amount

A Landlord’s expected payment amount is the amount of property management fees they were expected to pay over all time to their Property Manager (if the Landlord collects rent from Tenants) or the amount of rent payments received minus property management fees charged that is due to the Landlord (if the Property Manager collects rent). Housters calculates a Landlord’s expected payment amount by summing up the Amounts Due on all of their open and closed Payment¬†Invoices¬†that are due. These Invoices are generated over time, and follow the schedule laid out in the Landlord’s contract terms.

Actual Payment Amount

A Landlord’s actual payment amount is the amount of payments actually paid over all time. Housters calculates a Landlord’s actual payment amount by summing up the Amounts Paid on all of their open and closed Rent Invoices. This will match the amount of Payment Transactions logged for the Landlord.

How does Housters know which Payments Transactions should count towards the Landlord’s actual paid amount? If the Transaction is assigned to the Landlord or to one of their Properties, and the Transaction Type is set to “Property Management Fees Received” (if the Landlord collects rent) or to “Payment to Landlord” (if the Property Manager collects rent), then it will be counted.

Payment Status

A Landlord’s payment status is the amount that still needs to be paid. Housters calculates a Landlord’s payment status as the difference between the Amounts Due and the Amounts Paid on all of their open Payment Invoices that are due. If the Amounts Due are more than the Amounts Paid, the Landlord has an unpaid amount.

My Landlord’s Payment Status is Wrong

If your Landlord’s payment status is wrong, then you can update the Landlord’s Invoices to fix it. If their expected payment amount is incorrect then edit their Contracts and ensure their contract terms are correct. Once you save a Contract, the Landlord’s Invoices will be regenerated according to the Contract schedule. If their actual amount paid is incorrect then add Payment Transactions for each payment that you sent or received. Once you save a Payment Transaction, the Landlord’s Invoices will be updated to reflect the new amount paid.

If you want to see how much was due for each payment period (according to their contract terms) and how much was paid (according to the Payment Transactions), check out the Property Management Payments Report.