Track rental deposits

Purpose

The “Deposits” screen maintains the register of deposits lodged for each lease, including type, amount, “Bank or body”, reference and status, in order to know at any time which deposits are lodged, pending or released, and to determine the total amount under management.

Where to find it

1. Letting
2. Deposits

Steps

1. Click “New” in order to open the “New deposit” form.
2. Select the “Lease”, and then specify the “Type”, the “Amount” and the “Bank or body”.
3. Enter the “Reference” of the account or deposit so that you can locate it with the body.
4. Choose the “Status” and the “Lodged on” date when the deposit is effectively in place.
5. Use “Edit” in order to update the record, and “Release” at the end of the lease.

Good to know

• The header of the list displays the total of deposits with the “Lodged” status, which provides an immediate overview of the amounts held on behalf of tenants.
• The deposit amount entered on the lease also appears in the generated contract and in the tenant portal, while the deposit record ensures its operational tracking.
• Following release, the row provides the “Letter” button in order to reopen the correspondence sent to the tenant.

Related guides

• LettingsRelease a depositRelease the deposit at the end of the lease along with any deductions from the exit inspection, so that REOS can generate the letter and send it to the tenant.
• LettingsManaging leasesCreate and track the leases for your units, from draft to the end of the contract, including rent, charges, deposit and applicable legislation.
• LettingsComparing move-in and move-outAt move-out, REOS compares the move-in inspection, suggests observed damage, and calculates the amount to be retained from the deposit.
• LettingsConsulting tenant filesFind each tenant with their leases, payments, incidents, and documents, and manage their access to the tenant portal.