Money and deposit
Rent, agency commission and deposit: how the money from your rental is kept apart
In a managed rental, several amounts of money are involved that look alike but are not the same. Keeping them apart is what lets the owner understand what happens with each one.
Four different concepts
- Havantix management income: the fees for managing the property.
- Agency commission: what belongs to the agency that places the tenant.
- The owner’s rent: what the owner receives for their property.
- The tenant’s deposit.
The agency commission
When a partner agency places the tenant, the placement commission is deducted from the owner in the agreed settlement and Havantix pays it to the agency. It is not treated as Havantix margin.
The commission is not financed from the deposit. If the available settlement is not enough, the plan is to leave the deduction pending or split it as authorized by the owner.
The deposit
The deposit is held and controlled separately, with justified movements and its return. It is not Havantix billing or profit.
Expenses and repairs
Maintenance or renovation costs are not considered automatically included. Each job is quoted, authorized and recorded, including who pays.
The settlement
The owner receives an understandable breakdown and supporting documents. For each property and period, the following are kept distinct:
- Expected, collected and outstanding rent.
- Management fees and applicable taxes.
- Agency commission, if any.
- Authorized repairs and other expenses.
- The deposit, separately.
- The net settlement to the owner.
We are preparing an app where you will be able to check this detail.
What to be clear about
- What the agency charges, who pays it and when.
- Where the deposit is held and which movements it can have.
- Who authorizes and who pays for each repair.
All of this is specified in the valuation and in the contract for each property.