Managing your property finances is an essential part of being a landlord, and having a clear, concise year-end statement can make this task much easier. We, we aim to provide you with all the financial information you need to keep your accounts in order. Here's what you can expect from your year-end statements and when you can expect to receive them:
What to Expect
Detailed Breakdown: Your year-end statement will include a comprehensive breakdown of all income and expenses related to your property.
Tax Information: The statement will also include tax-related information, making it easier for you to file your tax returns.
Payment History: A record of all transactions, including rent payments received, maintenance costs, and any other charges or credits.
When to Expect
Annual Delivery: Year-end statements are typically generated at the end of the financial year.
Special Requests: If you don't use the PayProp App and require a statement at a different time, you'll need to request one specifically.
How to Request
Via PayProp App: If you're using the PayProp App, you can easily access your statements there.
Manual Request: For those not using the app, you can request a statement by contacting your property manager directly.
Important Notes
Request in Advance: If you need a statement at a specific time, it's advisable to request it well in advance to ensure timely delivery.
Digital Format: Statements are usually sent in a digital format, making it easy for you to store and access them. Though, if paper copies are needed, this can be requested.
Understanding your year-end statement is crucial for effective property management and financial planning. If you have any questions or need further clarification, feel free to reach out to us.