The Letting Partnership provides specialist outsourced client accounting, client money protection and ancillary services to independent letting and property management agents across the UK. Every month more than £30m of client money is processed by the team, giving agents the peace of mind that they are compliant and that their clients’ money is safeguarded.
How you manage money- especially other people’s money- says a huge amount about your business, and yourself as an owner.
For landlords, good client money management (protecting, handling, and paying rent on time) is as important as finding the ‘right ’tenant..
Today, 48% of all landlords use the services of letting agents, and with the ever-changing legislation, this percentage could grow in coming years. On any one day, there are billions of pounds in tenant deposits and landlords’ rents deposited in the bank accounts of letting agents. As a letting agent, poor client money management could ultimately end up costing you a lot more than you anticipate. This could be in the form of direct fines, resources to deal with the issues, or through reputational damage. When handling, processing, and protecting client money, you can’t afford to get it wrong.
With many agents experiencing problems with securing a client account with their bank (either opening an account or continuing to use their existing one), it is important that agents understand how to talk to their bank. Page 5 of the eBook, it outlines useful tips on how to address issues with your bank.
Are you thinking about changing or using client accounting software? Chapter 2 offers an overview and tips on installing and changing software. Chapters 3 & 4 will tell you all you need to know about monies coming in and going out, and Chapter 5 covers reconciling your client accounts.
Follow The Money eBook is the definitive guide for letting agents on the management and protection of client money held and processed.
Working in partnership with TDS, The Letting Partnership will waive the setup fee of £395.00 for all TDS customers! To take advantage of this exclusive offer, call 01903 477 900 and quote TDS. To find out more about The Letting Partnership, visit their website.