Client Accounting for Letting Agents

Client accounting service provider for letting agents

If one thing is certain in the property rental market it’s change. The industry has seen a raft of financial changes over the last year as well as changes in legislation as the industry looks to improve the way in which it is regulated. Leading letting agencies are evolving their approach to the way in which their finances are managed, improving systems and processes. As a result, a number of national letting agencies have removed the burden of managing client accounts opting to outsource client accounting to a reliable service provider.

Unlock your agency’s potential

MNE has a proven track record of managing not only the business accounts, but our unique service enables us to manage client accounting for letting agents too, giving your agency a competitive advantage.

We are extremely experienced within the lettings industry. Some of our management team have previously held senior positions at national letting agents, meaning we have lived and breathed the industry for years. The rental market is one we intrinsically understand, giving you absolute peace of mind. We’re here to become an extension of your team and make a measurable and lasting difference.

Outsourcing your client accounting isn’t just a short term cost-cutting exercise. Although reduced costs are the strongest advantage, outsourcing to our finance team can also drive long-term efficiencies, deliver sustainable benefits and be a real platform for growth. Read our lettings case study to get a brief insight into the difference we’ve made for one of our clients.

Benefits of outsourcing your client accounting

We are a trusted business partner to large and small letting agencies, managing the accounting for over 40,000 properties across the UK. You can draw upon our unique industry insight and experience, which means you can rely on us to comprehensively look after your agency’s financial interests.

Some of the benefits of outsourcing your client accounting include:

  • Scalability. In rapid growth periods, the back-office operations of an agency also expand. Business owners can react quickly to changes within their business, as well as industry and economic changes in a way you just can’t when you have an in-house finance operation.
  • Staff issues are a thing of the past. Save money on everything that comes with employing staff such as recruitment costs, holiday pay, training and office equipment.
  • Staff leaving, holidays and being off sick just doesn’t happen. Our clients benefit from having their accounting systems running all year round.
  • More time. It’s hard enough juggling everything that comes with running a letting agency as well as managing your accounts team. Outsourcing client accounting frees up valuable time.
  • Greater productivity. We split one role into several roles across our team meaning tasks are completed efficiently, quickly and by the right member of the team.
  • Access to the industry’s best tools and technology. We constantly look to improve our service and expertise through new technology, so that our clients can reap the benefits.

Strong financial foundations for success in the rentals market

We understand your agency’s requirements, we know the right questions to ask and we are just as passionate about your agency as you are. As much as we understand the lettings market inside out, our expertise in other sectors means we can help you to execute a new finance function to perfection.

Why we are a strong partner

  • We’re a highly experienced team. Some of our management team have held senior positions at national letting agents.
  • National coverage. From Eastbourne to Edinburgh, no matter where you are in the UK, we have you covered.
  • Trusted by leading letting agencies. From independently owned businesses to national UK brands.
  • Proven track record of delivering cost savings. Without exception, we have helped deliver operational cost savings to our clients.

Our client accounting service includes:

  • Processing and allocating money received
  • Reconciling against rent demands and invoices raised
  • Delivery of detailed daily receipts and payments schedule
  • Generating landlord statements and remittance advice notices
  • Payments to landlords and suppliers by BACS
  • Itemised fees and commission reports
  • Dedicated phone lines

Interested in our client accounting service for letting agents? Drop us a line

Without exception, we have helped deliver operational cost savings for the letting agencies we partner with. Our fees can include client accounting, overheads and your year end accounts in one simple monthly fixed fee. For more information, get in touch or fill out the contact form below.