Expert - Professional - Cost Effective
Outsourced Bookkeeping for Letting Agents
Save money and scale faster using Rentancy. Let us take care of the rent collection, client accounting and arrears chasing.
"I cannot express how invaluable Hayley at Rentancy is to Radstock Property. Her attention to detail, knowledge and support are second to none and we simply could not run our business without her."
"I have been able to hand over all aspects of property management to Hannah including renewals, rent reviews and all maintenance issues. The communication is excellent. Any reservations I had were completely put to rest. In fact, I often call Hannah for advice!"
Charles Louis Lettings & Property Management
" We have been using Rentancy for over a year and the offering is superb. I would have no hesitation in recommending Rentancy."
A leader in outsouced bookkeeping services
Why Outsource Bookkeeping?
1. Value your time - owners who use Rentancy gain up 10 hours per week back from doing less admin. Use this time to win new clients and improve work-life balance.
2. Save on costs - agents report saving up to 40% in operating costs by switching to Rentancy - this means more profit to the bottom line every year.
3. Less people headaches - less recruitment, less holiday cover planning mean a simpler business.
4. Access top talent - Rentancy bookkeepers are experienced and well trained. We give you access to professional talent that might otherwise take you months to find and hire locally.
5. Turn-on/turn-off - Rentancy prides itself on using clear, simple to understand contracts which can be ended at any point with 30 days notice.
Streamline your Lettings
We take on collecting and reconciling rent income daily.
We track late payments. Preparing email and phone chasing. We can also issue notices and demands if necessary.
We keep cash reconciled daily and run landlord statements as well as payouts for management fees, suppliers and landlords.
We run audits to ensure full billing of management fees across the full portfolio.
We can provide adhoc bookkeeping support as needed on a pay per hour basis
We can also provide full-time or part-time work cover for staff resourcing gaps such as holiday or paternity leave.
30 Minute Free Consultation
This is a free consultation to help you understand how outsourcing works and if there is a fit for your business.
Map of Tech & Processes
We create a map of your business covering the systems & processes you use. This helps you and us to identify how everything ticks as well as spotting opportunities and gaps in the flow of business.
We prepare a business case showing the savings potential in your business today and as your business grows.
We summarise our analysis into clear recommendations. This will be areas to improve your processing, services where you can charge additional management fees, risk areas and readiness to consider outsourcing.
We support 3 methods of accounting
Client Money Accounting
Agents hold tenant and landlord money in a client account. Pay-ins and Pay-outs are allocated daily to landlords, tenants, suppliers (including the agent) and tagged with the associated property.
At the end of each day a cash reconciliation report is run showing the full allocation of all monies.
Profit & Loss Accounting
Simpler than Client Money Accounting, rental income, lease income and expenses are accounted for within a traditional P&L.
Typically a P&L is maintained matching the corporate holding structure of a landlord or corporate.
Rents may be books to a ledger code per property or a single income account.
Service Charge Accounting
Block and commercial agents or landlords raise a service charge annually to cover the upkeep of the property and maintenance of communal areas.
The agent prepares a budget for all leaseholders and balances from the prior year, either under or overs are carried to the next year.
Demands are issued at the start of the service charge period and a 6 month budget versus actual expenditure is prepared for leaseholders at midway and end of the accounting period.
How we work
Start the right way
We bring a proven onboarding process:
learning your property portfolio,
following your processes and ways of working.
We provide you with a bookkeeping team to manage your property and account manager to support the business relationship.
Your Rentancy bookkeeping team is available daily by video call, chat or phone. We use the latest tech to make them part of your organisation and connected with your office.
After the first 2 rent cycles, relax and enjoy consistency and stability in your business. Rentancy helps you scale-up or down and to achieve lower fixed costs and fewer staff turnover headaches.
What does a typical day look like?
Morning call & regular updates
Every morning we update with tasks for the day ahead covering any blockers/issues needing discussion. This can be by call or email.
We operate a 'reconcile daily' approach wherever possible. We will process and bring a client money account up to date daily wherever possible.
We use your email addresses and follow your agency processes, using your systems.
We are part of your team
You can always reach Rentancy to talk to your bookkeepers during working hours or if you want to talk to our overall account management and support team.
Portfolios we serve
Rent collection only
Build to Rent