Letting Agent Takes Initial Fee and Commission

NO LONGER NEEDED

Some letting agents take an initial fee off your first payment as well as a commission off each of the other rents as well.  This guide will talk you through the process.

Firstly configure a tenancy for a letting agent and ensure that you have set the radio button to

  and fill out all of the numbers, including how much VAT they are charging.

Next, add a payment from the tenant to create the agent statement.

Now you can add the extra fee.  Go to Tenant Manager > Agent Fees > Agent Fees Tab > Add Agent Fee.  Use the same statement that you created when you added the payment (in this case ALL0101).

This will add the initial fee onto the statement while retaining the commissions.