Tracing back rent disbursements to landlords

Is there a way to identify how much a tenant has paid in rent and how much the agent has disbursed the rent to the landlords account? I think you can tell how much the tenant has paid from the ledger but is there a way to identify the disbursements the agent has made?

The is no rent in my account for a period now and the agent seems completely oblivious to this and seems to be struggling to find out.

I can tell from my bank account how much as been disbursed. But if the ledger was passed to another agent, can another agent tell what has gone on?

 

If the tenants ledger is compared to you bank statement you would be able to work out how much is owing to you. Less management fees.

As for your agent/PM each owner, tenant, property will have a folio in there data base (depending on the software used) this folio (similar to a tenant ledger) can be printed. I would really be questioning an agent that can't give this basic information. We are able to print out these reports in minutes and email them off. If your PM is unable to do this you need to start asking questions, now!

 

Its an agent I have sacked already, just tying up loose ends. I can reconcile on my end via bank statements, I don't want it to affect the tenant. The tenant may have already paid, the agent may have pocketed the amount since it hasn't hit my account. I can't be chasing up the tenant for amounts they have already paid. If i passed the ledger to another agent, how can they work out whether the tenant really hasn't paid Vs tenant has paid, but agent has pocketed it. Is the only way via me reconciling with my bank statements?

 

Why? your paying someone else to sort all that out for you.

Having followed this situation from the start, including the other threads, whilst I empathise your concerns, we all have them, I could be wrong but it sounds like your perhaps trying to micro manage to much.

Perhaps step back a little and let your new Property "Manager" do the job your paying them to do.
Let the dust settle, wait for your first statement from the new PM, if anything doesn't look right, add up, ask questions. If they need anything from you they'll ask.

 

I though the new agent won't follow up the stuff ups of the old agent? The period of rent that is missing is before they became my agent. I was of the impression that because its dealings with the old agent i had to follow this myself because that was the contract between me and the old agent and may have nothing to do with the tenant at all so from the new agents perspective, they are not required to do anything for me in this regard.

Is this not the case?

 

If it's in arrears and shown on the statement the new agent should follow up ie request copies of the missed payments from tenants.

 

Should'nt be, providing you've made the new PM aware of the issues when employing them and they are on their game, but you won't know this until the new PM has received all requirements from previous PM (not always a simple process) and had time to process/calculate it, they then should know if the tenant is in arrears or the previous PM is withholding funds etc.

Whilst frustrating, just gotta wait till they have time to sort it all out for you, amongst everything else they have to do for other clients.

 

Request an EOFY statement as this should also detail your outgoings such as management fees, maintenance charges, levies and rates. That would be more accurate than digging through your tenant's ledger.

 

This agent has no such thing. Even if they had I wouldn't trust it. The amount of times I had to go back and tell them they stuffed up is more than i can count

 

It may be worthwhile to have a chat to the tenant. Hopefully tenant has records of amounts paid.

We had a similar case. PM collected cash, issued hand written receipts and kept the cash. Bond and rent involved. Tenant worked with us, Fair Trading involved. Money recouped from RE fund, PM jailed.
Marg

 

Perhaps from the tenants perspective, I'd be getting fed-up with all the mucking around, old PM, new PM, owner/landlord all contacting/disrupting my privacy etc for something that's not my problem, they should have their shiet sorted out.

I'd be leaving it to the new PM to sort out, what their paid for.
Landlords contact is through PM, not to tenant.

 

I couldn't agree more. I want minimal impact for the tenant.