Understanding your Landlord statement
Your landlord statement breaks down what rent came in, what was deducted (like fees or repairs), what’s been paid to you, and what’s left. Invoices are listed for clarity, not as extra charges. Knowing what each section means helps you stay on top of your property finances.
Understanding your rental statement
Opening Balance – This is the balance carried forward on the landlord’s account from the previous statement.
Income – The income section shows income received. For overseas landlords, it will also show any tax credits.
Expenditure – This section shows expenditure that has been deducted from income, such as management fees, supplier invoices, and withheld tax.
Landlord Payments – This section shows payments that have been made into the landlord’s bank account.
Closing Balance – This shows the funds that are left on the landlord account at the end of the statement. This includes any interest earned, funds on account for works and float withheld.
Invoices – Highlights all invoices raised against the landlord. This section provides more information on the invoices that also appear in the payments section of the statement. It also provides an invoice number for the landlord to use for accounting purposes. It is not a duplicate or additional charge.
Frequently Asked Questions
Still have some questions? Take a look below at our most commonly asked questions to assist you further.
What’s the “reserve funds/float”?
Money withheld for upcoming plan-approved works. To query specifics, contact your Property Manager.
Why did I receive a partial rent payment?
Often due to split payments by tenants or delayed payments. Once full rent is received, the remaining funds will be forwarded.
Why was the full management fee charged on a partial payment?
Fees are charged on total rent due—not actual rent received. No extra fee when the remainder arrives.
Can I get an annual statement?
Yes—email clientaccounts@thornleygroves.co.uk.
Unexpected repair charges?
Agents can authorise up to £250+VAT per repair. If the charge seems unfamiliar, contact your Property Manager before paying.
Should you have any further questions regarding your statement, please do not hesitate to contact the accounts department on clientaccounts@thornleygroves.co.uk.