Owner shares and payouts

Who is this guide for?

For a building or office manager who collects rent from the tenant and delivers part of it to the apartment owner.

How is the owner’s share calculated?

You write in the lease contract the amount of the owner’s share of the rent, and the rest remains in the fund as office fees. Example: Rent 3000, owner’s share 2750 → 250 for the office. If an expense is spent on the apartment from the owner's share (such as plumbing 200), it is deducted from his share, so he gets 2550, while the expense of the total rent is borne by the office.

Before you begin

• Determine the owner’s share in the contract from the apartment’s details, and make sure that the apartment has a registered owner.

Steps

1. From Finance ← Charges You will find the rent due with a special card showing Where the rent goes: Owner, Remaining in Fund, Uncollected...
2. Disbursement with payment registration: Click Record payment, enter the amount received, date and payment method, activate Owner's Right and choose Full, Partial or No Disbursement Now.
3. Disbursement later: Click Owner Expenses and Disbursement. Add expenses with the Add Expense (Description, Amount, and who is responsible for it), and choose Disbursed to the owner in whole or in part.
4. See the Will be logged: line and press Execute.

Result

The disbursement is recorded as an expense invoice associated with the charge, and is labeled Disbursed to Owner and Owner Balance. You can open Owner Statement from the More.

Important notes

• No more shall be disbursed to the landlord than what was collected from the tenant after expenses (Available for disbursement now).
• The owner’s expense is greater than what is available, making his balance negative, and it is covered from the first next expenditure.

Who is this guide for?

For someone who collects the rent and delivers his share to the landlord, and wants to follow up on this from the mobile phone.

How is the owner’s share calculated?

The landlord's share is a fixed amount written in the lease contract, and the rest goes to the office. Example: Rent is 3000 and the owner’s share is 2750 → 250 for the office. Plumbing expenses of 200 from the owner's share, making his share 2550.

Steps

1. From the Charges tab, open the rent charge. The rent distribution card appears with Owner's Share, Disbursement, Debits, Owner's Remaining, and Owner's Balance.
2. Click Owner Expenses and Disbursement.
3. To add an expense, click Add Expense and write Description and Amount and choose who will bear it.
4. In Disbursed to Owner choose Full or Partial (and enter the Amount Disbursed to Owner) or No Disbursement Now.
5. See the Will be logged: line and press Execute.

Result

The message The owner’s right has been disbursed and the expense recorded. appears and the numbers are updated. The Account Statement button displays the owner's complete account.

Important notes

• The message “The amount disbursed to the owner is greater than what is available to him now” means that you are trying to spend more than what was earned after expenses.
• There is no registered owner for this apartment: register the owner first.
• The Fixed Charges button appears if the contract has a fixed monthly charge.