|
|
| Line 1: |
Line 1: |
| == Getting Started – Adding a new Rental Property == | | = Taking On a New Rental Property = |
|
| |
|
| | This workflow takes a landlord enquiry from first contact through valuation, instruction and launch to market. |
|
| |
|
| Standout has been designed to market and manage a property, either with No management whatsoever, rent collection or fully managed.
| | == 1. Search/create the landlord == |
| | Search Contacts first. If the landlord is new, create the contact with the Landlord role and record reliable communication details. |
|
| |
|
| === Guided Mode === | | == 2. Create the rental property == |
| Standout by default works in guided mode. Meaning property statuses will be shown in the order of what is expected. For example, when a property is created the only status available would be “Pre Valuation”, in free mode, all properties statues are display.
| | Enter the basic information known from the enquiry: |
|
| |
|
| | * address; |
| | * owner/landlord; |
| | * property type/style; |
| | * bedrooms/bathrooms/receptions; |
| | * managed/rental mode where known; |
| | * expected rent if already discussed. |
|
| |
|
| This part of the help system will describe the following:
| | Guided mode normally presents statuses in the order expected by the workflow. |
|
| |
|
| * Adding a property on the system including assigning a new Landlord and all the tabs associated with a property (both Sales/Rentals).
| | == 3. Book the rental valuation == |
| * Booking a valuation
| | Use the property valuation workflow to create the diary appointment. Confirm the valuer and customer notification options. |
| * Accepting the valuation
| |
| * Making the property available
| |
| * Creating an applicant
| |
| * Booking a viewing
| |
| * Making an offer
| |
| * Adding a second tenant
| |
| * Creating an agreement
| |
| * How Financials work
| |
| * Tabs
| |
|
| |
|
| Displayed above the property details, tab elements will be shown (and hidden) depending on a property contract etc. These tabs will allow different sections to be shown. We recommend that if you’ve amended information in a tab, press Save property before proceeding.
| | == 4. Record the valuation == |
| | After visiting, update the valuation/rent advice and the property information gathered at the appointment. |
|
| |
|
| ==== Identification ====
| | If the landlord is deciding whether to instruct, capture the follow-up as a task. |
| The first area to be completed should be the property header information, this would be a unique reference (either type your own or allow the system to generate one), select the branch (if applicable), date the property can be marketed and if you’re going to market this property as a “Featured” property on your website and/or Portals, this can be changed at a later date if required.
| |
|
| |
|
| ==== Address ==== | | == 5. Confirm the service level == |
| Next enter the address details of the property, enter the Postcode of the property – if that Postcode exists in our database, either partial details will be populated or a drop down list of all the known addresses will be available for selection. Once selected, the data will be populated into the address fields – if you wish to edit these fields, you can do so at any time. If known/required, the local council can be selected for this property. If for any reason the address is not picked up from the post code then you will need to enter the full address manually.
| | When instructed, confirm the rental management mode used by your agency, for example Fully Managed or other available service levels. This affects which tenancy/financial/compliance workflows become relevant. |
|
| |
|
| | == 6. Complete the property for marketing == |
| | Before making it available, complete: |
|
| |
|
| If you subscribe to the Zoopla portal for Display Address to be recognised by Zoopla, it must have 3 sections, by default this would be the “Road Name, Town, First part of the Postcode” ie “High Street, Town, M26”.
| | * rent/deposit/fees as applicable; |
| | * descriptions and rooms; |
| | * photographs/floorplan; |
| | * utility information where held; |
| | * compliance/certificate information available at that stage; |
| | * landlord details and instructions. |
|
| |
|
| | == 7. Launch the property == |
| | Once the landlord has approved the particulars and the listing is ready, set the appropriate live/Available status. |
|
| |
|
| Mapping is an integral part of Standout and property searching, a properties Latitude and Longitude will be returned but, if you wish to move the marker on Google Maps, then use the Set Map button to move the marker to the required spot, clicking Close will then update the Latitude/Longitude accordingly.
| | The property can then feed to the configured website/portals and be used for applicant matching. |
|
| |
|
| | == 8. Enquiries, viewings and offers == |
| | Register prospective tenants, maintain rental requirements and use the linked viewing workflow. |
|
| |
|
| As above, the Streetview can also be amended but, please be aware that Google may not have mapped new houses/estates so a close location may have to be chosen until their views have been updated. Once you’re happy with the view of the property, click close to save the amendments. Additionally, you can turn this option off by settings the Include street view to No.
| | Record feedback and offers in the property rather than only in notes. |
|
| |
|
| === Owners === | | == 9. Accepting a tenant == |
| | When the landlord accepts the tenant/offer, move into [[Creating and Starting a Tenancy]]. |
|
| |
|
| ==== Current Owners ==== | | == Things to check before marketing == |
| As this is a new property, No owners selected will be displayed.
| | * landlord linked correctly; |
| | * management mode correct; |
| | * rent/deposit correct; |
| | * bedrooms/type/style correct for matching; |
| | * marketing media complete; |
| | * known compliance issues identified early rather than at move-in. |
|
| |
|
| ==== Add Owner ==== | | == Related guides == |
| When you start typing a name (at least two characters), existing contacts within Standout will be displayed. To add a new contact, click the link “Create a new contact”
| | * [[Rental Property Overview]] |
| | | * [[Creating and Starting a Tenancy]] |
| ==== Adding a new landlord ====
| | * [[Rental Compliance and Inspections]] |
| Enter the landlords’ details in this new tab. The minimum amount of information needed to complete this task are:
| | * [[Managing Repairs and Maintenance]] |
| | |
| Title
| |
| | |
| First name
| |
| | |
| Surname
| |
| | |
| Contact type – by default Landlord will be ticked (or checked)
| |
| | |
| Telephone or Mobile number
| |
| | |
| Email address – we believe this to be the most important as Standout can email contacts important letters, notices, and general emails.
| |
| | |
| If the Landlord is a Company, enter the company name.
| |
| | |
| Address – address where the Landlord resides or their business address.
| |
| | |
| Once you’ve clicked Create contact, you can close this tab and return to the Add owners to enter the name details of your new landlord.
| |
| | |
| If there are multiple landlords for a property, you will need to repeat this process. Where multiple landlords exist, a primary can be selected.
| |
| | |
| == Basics ==
| |
| | |
| === Contract ===
| |
| The basic information refers to the contract and property information. Contracts that can be chosen are “For Sale/To Let/Auction”. For this example, we’re choosing “To Let” (each option displays and hides options for that contract.
| |
| | |
| === Managed ===
| |
| Managed options are “No/Rent Collection/Yes”, for this document, “Yes” will be selected.
| |
| | |
| === Class ===
| |
| Classification is the type of property being Let, “Residential/Commercial/Business”, “Residential” will be selected.
| |
| | |
| === New Build ===
| |
| Pertaining to the property itself, is this classed as a New Build Property, either Yes or No.
| |
| | |
| === Tenure ===
| |
| Is the Tenure of the building “Freehold/Leasehold/Commonhold/Share of Freehold/Flying Freehold/Share Transfer”.
| |
| | |
| === Residential type ===
| |
| A list of available residential property types, based upon the rules given by Rightmove.
| |
| | |
| === Property style ===
| |
| The type of property – “Detached/Link Detached/Semi Detached/Terrace”, based upon the rules given by Rightmove.
| |
| | |
| === Year built ===
| |
| The year (if known) the building was built.
| |
| | |
| === Bedrooms ===
| |
| How many bedrooms has the property? This is required!
| |
| | |
| === Bathrooms ===
| |
| How many bathrooms has the property? This is required!
| |
| | |
| === Reception rooms ===
| |
| How many reception rooms as the property? This is required!
| |
| | |
| == Price ==
| |
| Should your Landlord already have prices for their property, this section will allow you to enter those figures. However, this section can be left blank until you’ve visited the property and completed a valuation.
| |
| | |
| === Currency ===
| |
| If you’ve configured Standout for multiple currencies, then you will have the option to choose, otherwise, it will be the standard (£ GBP).
| |
| | |
| === Flash ===
| |
| A message displayed on your website, generally on the main photograph of the property.
| |
| | |
| === Let price ===
| |
| The amount of the rental
| |
| | |
| === Price qualifier ===
| |
| Choose from the list of available qualifiers
| |
| | |
| === Post price message ===
| |
| A free text box to enter a message after the price on your website
| |
| | |
| === Let period ===
| |
| When will the rent be due – Weekly/Monthly/Quarterly/Annually/Per 4 Weeks/Per Person Per Week
| |
| | |
| === Bond price ===
| |
| Known to some as a deposit – the bond should be paid by the tenant prior to their agreement start and held in your deposit scheme provider.
| |
| | |
| == Fees ==
| |
| | |
| === Contractual arrangement ===
| |
| The options available are Joint Agency/Multiple Agency/Sole Agency” and are set whether the Landlord has the property marketed by yourselves and/or other agencies.
| |
| | |
| === Contractual fee split ===
| |
| When not a Sole agency, you can select how the fees will be split between the agencies.
| |
| | |
| === Management Fee ===
| |
| How much will be charged to the Landlord for your services, either a percentage of the rent or a fixed fee.
| |
| | |
| === Finders Fee ===
| |
| If you charge a Landlord for finding a tenant(s), then enter the fee.
| |
| | |
| === Other agency name/Contractual details ===
| |
| These fields will be displayed when not a sole agency for you to enter the information.
| |
| | |
| | |
| Once the above has been completed, click the Save property. Any errors will be shown at the top of the display and will need to be resolved before a successful save.
| |
| | |
| == Book Valuation ==
| |
| When editing your recently entered property, you can click the button, located at the lower right of the screen OR in the More actions menu.
| |
| | |
| | |
| When clicked, you will be shown the Diary view, normally showing the current working week, choose the day/time when you will visit the property and double click the time slot – e.g. Wednesday at 6pm.
| |
| | |
| | |
| The appointment form will be displayed, showing pre-populated information, including a small google map showing the property location. Should you wish to change anything, you can at this point.
| |
| | |
| | |
| | |
| If you are NOT visiting but a colleague, you can choose their details in the drop down select for “For” otherwise, your name will be displayed. If you've logged into Office 365, this appointment will be created in the Outlook Calendar for the attendee.
| |
| | |
| | |
| You can then choose whether to email the owner, if you do, click so a tick appears, they will receive an email confirming your visit.
| |
| | |
| ''Letter selection''
| |
| | |
| As you’ve booked a valuation, Standout has master letters available for you to create and either email or download/print. They are:
| |
| | |
| * Potential Listing Sheet
| |
| * Rental Take On/Valuation Checklist | |
| * Valuation Appointment
| |
| | |
| ''All the above can be duplicated and personalised in the Administration/Letter Templates section.''
| |
| | |
| | |
| If none are required, click “Back to property without creating letter” at the bottom.
| |
| | |
| == Property Status Update ==
| |
| As you’ve booked a valuation appointment, the property now has a status of “Awaiting Decision”. The only other status available is “Cancelled” should a Landlord wish not to use your services.
| |
| | |
| == Confirm/reschedule valuation ==
| |
| Once you’ve valued the property, you can then use this option to either:
| |
| | |
| * Confirm the information | |
| * Reschedule a new valuation appointment
| |
| | |
| === Confirming the valuation ===
| |
| Edit the property and choose either “Confirm/Reschedule valuation” at the bottom of the screen, or the matching button on the “More actions” menu.
| |
| | |
| === Contractual Agreement ===
| |
| Confirm the agreement – Sole Agency/Joint Agency/Multiple Agency.
| |
| | |
| === Managed ===
| |
| Taken from the previous screen, this should match your previous choice – for this document, Yes is chosen.
| |
| | |
| === Let period ===
| |
| Taken from the previous screen, this should match your previous choice – for this document, Monthly is chosen.
| |
| | |
| === Initial Market Price ===
| |
| Enter the valuation price that you feel is the market value, the minimum and maximum that you feel your agency would accept.
| |
| | |
| === Fee ===
| |
| The period fee your agency charges, which will be either a fixed fee or a percentage.
| |
| | |
| === Finders fee ===
| |
| The fee you charge to the landlord for finding a tenant
| |
| | |
| === Bond price ===
| |
| The amount required to hold in the deposit scheme until the end of the tenancy.
| |
| | |
| === Valuation Advice ===
| |
| A text box to allow you to enter any additional information that you feel the landlord should be aware of.
| |
| | |
| === Cancel ===
| |
| If you want to stop doing this and return to the property
| |
| | |
| === Reschedule valuation appointment ===
| |
| Ignore all the above if the appointment did not occur and you wish to reschedule.
| |
| | |
| === Confirm valuation ===
| |
| Save the information provided and return to the property.
| |
| | |
| === Letter Production ===
| |
| You will be offered the option to create a letter stating your valuation details, which allows you to amend, along with your agency terms and conditions.
| |
| | |
| | |
| As with all letters created in Standout, Document will download a Word document, Email will email it to your landlord (subject to an email address in the landlords’ details) or Both.
| |
| | |
| | |
| If you do not wish to create the letter, choose “<- Back to property without creating letters”.
| |
| | |
| == Property Status Update ==
| |
| As you have now completed the above, the property status should now be set to “Valuation Confirmed”. Available statuses from this dropdown are “On hold/Available/Withdrawn/Valuation Confirmed”.
| |
| | |
| == Additional information prior to placing a property on the market ==
| |
| Before placing a property on the market, the more information provided regarding the property, the more likely a property will either be sold or let.
| |
| | |
| == Secondary details ==
| |
| Various fields that are self-explanatory but to help:
| |
| | |
| === Agency specific features ===
| |
| You can select entries from the drop-down list (items such as Children considered, Cul-de-sac, Double Glazed etc). This list is editable in the Administration part of the system.
| |
| | |
| === Additional features ===
| |
| Floors select from the list provided
| |
| | |
| Usual entrance floor select from the list provided
| |
| | |
| Parking select from the list provided
| |
| | |
| Assigned parking space(s) enter the details regarding the space(s)
| |
| | |
| Heating enter the details
| |
| | |
| Accessibility enter the details
| |
| | |
| Outside space enter the details
| |
| | |
| Burglar alarm Yes/No
| |
| | |
| Dishwasher Yes/No
| |
| | |
| Smoke Alarm Yes/No
| |
| | |
| Carbon monoxide alarm Yes/No
| |
| | |
| === Inside Area/Land area ===
| |
| Enter the areas and Standout can convert between feet/Yards/Meter squared/Acres/Hectares
| |
| | |
| === Running costs ===
| |
| Rates information enter the details
| |
| | |
| Council tax band select from the list provided
| |
| | |
| === Utilities ===
| |
| Average gas cost enter the amount (if known)
| |
| | |
| Average electricity cost enter the amount (if known)
| |
| | |
| Average water rates enter the amount (if known)
| |
| | |
| | |
| === Annual fees ===
| |
| Ground rent fee if applicable
| |
| | |
| Estate management fee if applicable
| |
| | |
| Insurance fees if applicable
| |
| | |
| === Descriptions ===
| |
| ''Brief description'' It's important to include a brief description, as this is often what is shown on your own website—and on portals—before someone clicks to view more details.
| |
| | |
| | |
| ''Full description '' It may be thought that the full description will be used to enter a complete and thorough description of the property, rooms, outside and any other information pertinent to the property. And whilst this is true, we recommend using the Floors & rooms (see below for further information) to fully describe these rooms.
| |
| | |
| | |
| Bullet points Add up to 20 bullet points regarding the property
| |
| | |
| | |
| Floors & rooms You can detail the property using floors and rooms, this will allow you to enter a floor or room name, the dimensions, a detailed description, up to four photographs and if required, for that room to be excluded from a brochure.
| |
| | |
| ''Please note: photographs should be uploaded prior, in the Media tab.''
| |
| | |
| ''Default rooms & floors can be created in “Administration/Branch/Default rooms” – such as Agency notes etc.''
| |
| | |
|
| |
| | |
| An example would be:
| |
| | |
| * Ground floor
| |
| * Front Garden (giving a description/photo/dimensions)
| |
| * Entrance hall (giving a description/photo/dimensions) | |
| * Reception (giving a description/photo/dimensions)
| |
| * Dining room (giving a description/photo/dimensions)
| |
| * Kitchen (giving a description/photo/dimensions)
| |
| * Conservatory (giving a description/photo/dimensions)
| |
| * First floor
| |
| * Hallway (giving a description/photo/dimensions)
| |
| * Bedroom One (giving a description/photo/dimensions)
| |
| * En-suite (giving a description/photo/dimensions)
| |
| * Bedroom Two (giving a description/photo/dimensions)
| |
| * Bedroom Three (giving a description/photo/dimensions)
| |
| * Bathroom (giving a description/photo/dimensions)
| |
| * Rear Garden (giving a description/photo/dimensions)
| |
| * Garden studio (giving a description/photo/dimensions)
| |
| * Garage (giving a description/photo/dimensions)
| |
| * Agency Notes (place your notes in the description)
| |
| | |
| | |
| === Additional descriptions ===
| |
| Directions '' '' By clicking the Directions button, Standout will calculate the
| |
| | |
| directions from your branch office to property.
| |
| | |
| | |
| | |
| Location Enter any additional information regarding the property location, not entered in either the descriptions or rooms & floors.
| |
| | |
| | |
| | |
| Vendor View/Opinion Enter additional information provided by the landlord/vendor regarding the property.
| |
| | |
| === Media ===
| |
| | |
| ==== General media ====
| |
| Photographs upload all the property photos and order them how you’d like them to be viewed online
| |
| | |
| Brochure Media order the photos if different from above
| |
| | |
| Floor plans upload floorplans into this section
| |
| | |
| Floorplan URL If the floorplan is hosted by a 3<sup>rd</sup> party
| |
| | |
| Video URL If you’ve a video on YouTube etc, paste the URL here
| |
| | |
| == Rental ==
| |
| | |
| === Rental options ===
| |
| | |
| | |
| Shared Property this document does not go into HMO properties, see our document “Marketing HMO properties”
| |
| | |
| ==== Rental Features ====
| |
| Let type select from the drop-down list
| |
| | |
| Furnished select from the drop-down list
| |
| | |
| Minimum Term enter the minimum length the landlord is prepared to accept
| |
| | |
| Contract length enter the contract length
| |
| | |
| Pets allowed Yes/No
| |
| | |
| Smokers considered Yes/No
| |
| | |
| Benefits considered Yes/No
| |
| | |
| Sharers considered Yes/No
| |
| | |
| Rent includes Up to 1000 characters describing any additional inclusions
| |
| | |
| | |
| Bills included Self-explanatory Yes/No options included within the rental amount
| |
| | |
| === Property finance information ===
| |
| Mortgaged property Yes/No
| |
| | |
| If the landlord wishes for you to know this information, you can record Mortgage Provider, term, price, date, monthly repayment.
| |
| | |
| ==== Utility providers ====
| |
| Gas/Electricity/Water Select from a list of providers (if known)
| |
| | |
| | |
| Inventory '' '' Add inventory items that will be in the property at the start of the tenancy recording - room, item name, condition, quantity, value, additional notes and a photograph
| |
| | |
| | |
| Repairs Once a tenancy in active, you can report a repair and allocate a contractor. Selecting contractor type, contractor, date reported, report to, date passed to contractor, date to be fixed, date fixed, contact method (how the tenant reported the repair), details of the problem, additional staff notes (internal only), quoted cost, fixed cost, signed off by agent/tenant. | |
| | |
| | |
| Recurring payments These payments generate a payment request to the tenant, and are intended to be used for things like extra car parking space, gardening services, window cleaning etc, automatically applied to active agreements and can be seen in the Financials
| |
| | |
| tab
| |
| | |
| | |
| | |
| Service appointments These are appointments for services that are booked for this property.
| |
| | |
| | |
| Rent reviews These are rent review appointments that are booked for this property.
| |
| | |
| === Certificates ===
| |
| EPC If the EPC is required, you can upload a certificate, otherwise, choose the EEC and EEP values to then Generate EPC certificate for the property. Also, when you place the expiry date into Standout, a diary appointment will be created on that date reminding you about its expiry.
| |
| | |
| | |
| Additional Certificates enter the Certificate reference, expiry date and if you hold a copy, select copy held. As above, an expiry date reminder will be created.
| |
| | |
| | |
| | |
| '''''** Whilst there are other tabs, this guide will now skip them as they are covered in the property help guide **'''''
| |
| | |
| | |
| == Placing the property on the Market ==
| |
| When your landlord confirms your valuation, you will need to edit the property to place the property online to start promoting:
| |
| | |
| === Important fields ===
| |
| Let price set the let price to what has been agreed
| |
| | |
| Status change to Available
| |
| | |
| | |
| Click the Save Property button
| |
| | |
| | |
| Letter production a letter named “Property On Market” can be created, if
| |
| | |
| Required, and downloaded, emailed or both.
| |
| | |
| | |
| ''Depending on the date you have specified in “Date available” the property will either go live as of that date or, if the date is in the future, the property will not be uploaded to any website or portal until that date.''
| |
| | |
| == Money Laundering ==
| |
| If you’ve configured Money Laundering (Administration/Branch/Money Laundering provider) you will have 30 days to obtain relevant documentation (see Contact/Money Laundering to record identification).
| |
| | |
| == Booking a viewing ==
| |
| When a potential tenant contacts your agency regarding the property, you will need to input their details onto Standout. Ensure that you choose “Applicant/Tenant”, enter their email and current address. This will ensure you can select them when booking the viewing.
| |
| | |
| === How to book a viewing ===
| |
| | |
| | |
| | |
| Contact click More Actions / Book viewing / Quick search property / Choose the appointment date/time and whether to email Owner/Tenant and if the Landlord confirmed.
| |
| | |
| | |
| Contact list click Edit / Book viewing / Quick search property / Choose the appointment date/time and whether to email Owner/Tenant and if the Landlord confirmed.
| |
| | |
| | |
| Property list click Edit / Book viewing / Quick search property / Choose the appointment date/time and whether to email Owner/Tenant and if the Landlord confirmed.
| |
| | |
| | |
| Property click the button “Book viewing“ or “More actions / Book viewing” – you can choose to either book a tenant viewing appointment or a staff viewing appointment (for yourself or another member of staff). Choose the tenant and the appointment date/time and whether to email Owner/Tenant and if the Landlord confirmed.
| |
| | |
| == Viewings/Offers ==
| |
| | |
| | |
| Once a viewing has occurred, you can update viewing details. To do this, edit the property, choose tab “Viewing / offers”. For simplicity, we will continue with the tenant making an offer to progress the property to a Let state and creating a tenancy agreement.
| |
| | |
| | |
| Options available when updating a past viewing are:
| |
| | |
| | |
| ''Book viewing'' book a subsequent viewing (if required)
| |
| | |
| ''Add viewer feedback'' if the viewer has given feedback, enter it here
| |
| | |
| ''Send feedback request email'' send an email to a viewer asking for feedback
| |
| | |
| ''Make offer '' enter offer details given by viewer
| |
| | |
| == Making an offer ==
| |
| | |
| | |
| Enter the offer made by the viewer (for rentals this is usually the asking price), you can select their financial position, if there are any additional parties (their partners), offer conditions, our advice and then click Make offer.
| |
| | |
| == Letter selection ==
| |
| | |
| | |
| Due to the Make Offer being the same for Rental and Sales, Standout has two master letters aimed at Make Rental and Make Sales. Each one can be customised. Select Make Rental. Choose your letter format (Document/Email/Both).
| |
| | |
| == Accepting an offer ==
| |
| | |
| | |
| Depending on what your landlord says, you can Reject an offer, however, for this document we will be accepting the offer to proceed further.
| |
| | |
| | |
| Click the “Accept” text and then click Ok to the popup confirmation.
| |
| | |
| == Letter Production ==
| |
| | |
| | |
| Letter production uses the “Offer Accepted” letter and will allow you to create a letter to all tenants and landlords, with the standard options to Document/Email/Both.
| |
| | |
| == Property Status ==
| |
| | |
| | |
| When accepting the above, the property Status will change to “Application Made”, options available are “On Hold/Available/Application Made/Let/Withdrawn”.
| |
| | |
| == Creating an Agreement ==
| |
| Once you’ve completed your due diligence (credit checking, money laundering etc) and are ready to create the agreement, edit the property and choose the Rental Agreements button.
| |
| | |
| | |
| For a new property, there will be no agreements, but as you let and re-let a property, a history of agreements will be displayed at the top.
| |
| | |
| | |
| By default the agreement will be created for the tenant that you accepted with their offer.
| |
| | |
| | |
| You will then be able to create the Agreement details:
| |
| | |
| | |
| Agreement date The date of the agreement (usual todays date)
| |
| | |
| Reference The reference you give to your agreement for this Property/tenant/landlord
| |
| | |
| Let period How often is rent due
| |
| | |
| Initial period (Monthly) How long will the agreement be in place (12 = one year)
| |
| | |
| Start date When will the tenant move in
| |
| | |
| End date Usually calculated using Start date and Initial period
| |
| | |
| Rolling contract Will the tenancy agreement stay in place after the End date
| |
| | |
| Auto Update Tenancy Address Do you want Standout to replace the address held on the tenant details with this property address
| |
| | |
| Let price How much rent for each period
| |
| | |
| Bond price How much is required for bond (deposit)
| |
| | |
| Finders Fee How much is the landlord paying for your agency for finding a new tenant
| |
| | |
| First Payment Due When is the first payment due (then occurs on that day each period
| |
| | |
| Payment Terms Zero by default, meaning if a payment is not received on the day specified, it’s overdue
| |
| | |
| Days to pay landlord 2 by default. How many days after receiving payment, will the landlord expect payment from your agency
| |
| | |
| Send a reminder How many days prior to rent being due, Standout can send an email and/or sms reminding the tenant
| |
| | |
| Send reminder by Disabled by default, select from the options available.
| |
| | |
| Note: SMS requires your account to be in credit, see Adminstration/SMS
| |
| | |
| Tenancy Deposit Scheme Which TDS provider you use
| |
| | |
| Deposit Scheme Reference The reference number for this agreement
| |
| | |
| Additional Clauses Any additional clauses to this agreement, that differ from your standard agreement
| |
| | |
| Initial Inspection visit If someone from your agency is to visit the property, choose a date and staff member
| |
| | |
| Guarantor If the tenant provides a guarantor, choose them
| |
| | |
| Fee details The fee is taken from the previous settings but if you wish to change, then enter a new fee, select the type and when the fee is due.
| |
| | |
| == Letter production ==
| |
| Standout will now create the Agreement Tenancy, populated with all the information entered in your agreement. You may amend this document prior to creating a Document/Emailing or Both.
| |
| | |
| | |
| You will be returned to the property agreement screen, now a new tab will be displayed called “Financials”.
| |
| | |
| == How to recover from creating an incorrect agreement ==
| |
| Should you make an error with an agreement, you can perform one of two actions, End Agreement will end the agreement, leaving the agreement in your property/agreements history. Alternatively, if this agreement is no longer required or you do not wish for it to display, click “Delete Agreement” to remove it completely.
| |
| | |
| == Meter readings ==
| |
| Standout can store the meter readings for the start and end of the tenancy, these can either be obtained by a staff member visit or the tenant relaying them to you, along with the providers.
| |
| | |
| == Financials ==
| |
| This tab will display three additional tabs:
| |
| | |
| | |
| | |
| Figures in a spreadsheet type format, all the transactions associated with this agreement.
| |
| | |
| Breakdown This breakdown counts and sums the various payment types. Note that any discrepancy shown may be due to a pending landlord payment, and will disappear when financials are up to date.
| |
| | |
| Graph This graph will allow you to more easily see any irregularities with the transactions for this agreement.
| |
| | |
| === Figures ===
| |
| The first section shows an overview of the following information:
| |
| | |
| | |
| Tenant owes you
| |
| | |
| Landlord owes you
| |
| | |
| Total agency earnings (excludes bank charges and VAT)
| |
| | |
| Total landlord payments
| |
| | |
| === Generating a statement for your landlord ===
| |
| When your landlord requests a statement, you can quickly and easily create one from here. Choose the Start date, End date or choose one of the Date helpers from the drop-down list and click Generate Statement.
| |
| | |
| ==== Report details ====
| |
| You will be shown the following columns:
| |
| | |
| | |
| Date
| |
| | |
| Description
| |
| | |
| Reference
| |
| | |
| Status
| |
| | |
| Fee
| |
| | |
| Amount
| |
| | |
| ==== Output options ====
| |
| Two options are then available to you are:
| |
| | |
| | |
| Download Statement downloads a copy for you in PDF format
| |
| | |
| Email PDF to contact emails a copy to the landlord (subject to an email address being stored)
| |
| | |
| == Record payment ==
| |
| When you either send or receive a payment, you record that payment in this section. Standout where relevant, will automatically assign the payment to any partial or unpaid items.
| |
| | |
| | |
| The entry details are:
| |
| | |
| | |
| Direction is the payment From or To
| |
| | |
| Party who is the payment from/to
| |
| | |
| Payment method how did they pay?
| |
| | |
| Payment type Is the payment Rent/Other/Bond
| |
| | |
| Amount How much is the payment
| |
| | |
| Date What date is on your bank statement
| |
| | |
| Reference What is the reference on your bank statement
| |
| | |
| Description Any additional information you wish to record
| |
| | |
| | |
| Click the Save button to confirm the above details.
| |
| | |
| === Example: ===
| |
| An agreement created on the 13/10/2021, tenancy starting 15/10/2021, Bond of £495.00, Monthly rent of £595.00 with a Finder’s fee of £125.00 (plus VAT – if applicable) and monthly management fees of £60.00 (plus VAT – if applicable).
| |
| | |
| | |
| How to allocate the first month’s payments from the tenant and paying the landlord on the next working day.
| |
| | |
| ==== Entering payments ====
| |
| At the start of a tenancy, subject to a reliable tenant, you should enter the following details of payments from the tenant and payment to your landlord:
| |
| | |
| {| class="wikitable"
| |
| |Direction
| |
| |From
| |
| |Method
| |
| |Type
| |
| |Amount
| |
| |Date
| |
| |Ref
| |
| |Description
| |
| |-
| |
| |From
| |
| |Tenant
| |
| |Bacs
| |
| |Bond
| |
| |495.00
| |
| |14/10/2021
| |
| |ABC123
| |
| |Payment from Tenant
| |
| |-
| |
| |From
| |
| |Tenant
| |
| |Bacs
| |
| |Rent
| |
| |595.00
| |
| |15/10/2021
| |
| |ABC123
| |
| |Payment from Tenant
| |
| |-
| |
| |To
| |
| |Landlord
| |
| |Bacs
| |
| |Rent
| |
| |373.00
| |
| |18/10/2021
| |
| |LL-001
| |
| |Payment to Landlord – Rent minus fees
| |
| |}
| |
| | |
| | |
| When you enter the first months rent payment, Standout will allocate the Rent Due transaction paid, it will also mark the Invoice to landlord paid, if there is an Invoice to landlord for the Finders fee, it will take that into account, therefore, prior to your final entry above, the transactions should display as:-
| |
| | |
| {| class="wikitable"
| |
| |Date
| |
| |Description
| |
| |Status
| |
| |Fee
| |
| |Amount
| |
| |Tenant Balance
| |
| |-
| |
| |15/10/21
| |
| |Payment from Tenant
| |
| |OK
| |
| |£0.00
| |
| |£595.00
| |
| |£0.00
| |
| |-
| |
| |15/10/21
| |
| |Invoice to landlord
| |
| | |
| Management Fee
| |
| |Paid
| |
| |£60.00
| |
| | |
| plus VAT of £12.00
| |
| |£0.00
| |
| |£595.00
| |
| |-
| |
| |15/10/21
| |
| |Rent Due
| |
| |Paid
| |
| |£0.00
| |
| |£595.00
| |
| |<nowiki>-£595.00</nowiki>
| |
| |-
| |
| |14/10/21
| |
| |Payment for Bond
| |
| |OK
| |
| |£0.00
| |
| |£495.00
| |
| |£0.00
| |
| |-
| |
| |13/10/21
| |
| |Bond request
| |
| |Paid
| |
| |£0.00
| |
| |£495.00
| |
| |<nowiki>-£495.00</nowiki>
| |
| |-
| |
| |13/10/21
| |
| |Invoice to landlord
| |
| | |
| Finder’s fee
| |
| |Unpaid
| |
| |£125.00
| |
| | |
| plus VAT of £25.00
| |
| |£0.00
| |
| |£0.00
| |
| |}
| |
| | |
| | |
| On Monday 18<sup>th</sup>, you pay your landlord the above amount, record it with:
| |
| | |
| {| class="wikitable"
| |
| |Direction
| |
| |From
| |
| |Method
| |
| |Type
| |
| |Amount
| |
| |Date
| |
| |Ref
| |
| |Description
| |
| |-
| |
| |To
| |
| |Landlord
| |
| |Bacs
| |
| |Rent
| |
| |373.00
| |
| |18/10/2021
| |
| |LL-001
| |
| |Payment to Landlord – Rent minus fees
| |
| |}
| |
| | |
| | |
| As of the 18-10-2021, the balances would be:
| |
| | |
| | |
| Tenant owes £0.00
| |
| | |
| Landlord is owed £0.00
| |
| | |
| Total agency fees £185.00 (excluding bank charges and VAT)
| |
| | |
| Total Landlord payments = £373.00
| |
| | |
| ==== Manually marking payments ====
| |
| If you have a transaction that has not been automatically allocated AND all the balances are £0.00, choose the Actions button, then select “Mark as paid”. This will mark this transaction as paid.
| |
| | |
| === Viewing options ===
| |
| You can choose to either display or not display the following transactions:
| |
| | |
| ==== Landlord / Tenant ====
| |
| From
| |
| | |
| To
| |
| | |
| Charges
| |
| | |
| Rent
| |
| | |
| All or None
| |
| | |
| === Transactions list ===
| |
| All the transactions listed with the following information:
| |
| | |
| | |
| Date Transaction date
| |
| | |
| Description A description of the transaction
| |
| | |
| Status Payment status
| |
| | |
| Fee If the transaction is a fee, with a description (if any) displayed below.
| |
| | |
| Amount Amount of the transaction (if not a fee)
| |
| | |
| Tenant Balance Rolling figure of the amount owed by a Tenant
| |
| | |
| === Actions ===
| |
| Mark Paid If the transaction has been paid but showing unpaid, use this.
| |
| | |
| Dispute Mark the transaction in dispute
| |
| | |
| Print invoice Only shown on Invoices, creates a Letter based on Landlord
| |
| | |
| Invoice or Tenant Invoice
| |
| | |
| Delete Delete the transaction if it is an error
| |
| | |
| === Breakdown ===
| |
| This breakdown counts and sums the various payment types. Note that any discrepancy shown may be due to a pending landlord payment and will disappear when financials are up to date.
| |
| | |
| | |
| The information show is:
| |
| | |
| | |
| Type The transaction type
| |
| | |
| Count How many of these transactions
| |
| | |
| Sum A total of these transactions
| |
| | |
| Expected What is expected (if anything)
| |
| | |
| Difference What the difference is (if shown)
| |
| | |
| ==== Graph ====
| |
| The graph is designed to allow you to see any irregularities more easily with the transactions for this agreement.
| |
| | |
| === Diary – Rent reminders ===
| |
| Once an agreement is in place and started, Standout will automatically place an all day event reminder in your diary, on the day rents are due. If you open the appointment, you can quickly jump to property/contact/agreement as these will be displayed.
| |
| | |
| | |
| Standout creates these reminders monthly on the last day of a month/first day of the month, for that month.
| |
