Finance

Adding revenues

To add a revenue, click the button in Finance or directly in the Dashboard  , fill in the fields, and click the Save button. To successfully record a revenue you need to provide at least the following information: Property Type Date Payer Amount In addition to this information, you can also enter: Tenancy VAT amount Description Attach a document In Rentila, Revenues are categorised under: Taxable income Refunds Other income Rent revenue  You will rarely need to add a Rent revenue manually as they are generated automatically by Rentila after you create a Tenancy. If you still need to add Lue lisää →

Missing Rent

If a rent doesn’t appear in Finance, please ensure that: the tenancy is active, the tenancy has not ended (check the end date and that the option for automatic renewal is on), the invoice creation date is accurate If everything seems in order, go to Tenancies and click on the Regenerate payments action on the right. The system will recreate the missing payments. Pay attention to the possibility of duplicates as this option will recreate ALL rent payments up to the current date.

Modifying the rent

Modify the rent To change the rent amount, go to Tenancies, click Edit on the right, change the rent amount and Save. Important The changes will be take effect for ALL FUTURE rent payments. Rents, already generated in the Finance section need to be modified manually, one by one. Modify an existing rent item To modify the rent amount of a payment already generated in the Finance section, click the Edit action on the right, change the rent amount and Save. Modify a Recorded payment You can change a rent payment, its date, its amount, its method or the payer. Lue lisää →

Deposit

A Deposit-type revenue is automatically added in the Finance section when the Tenancy is created. It is always possible to add this type of revenue manually, in Finance, by adding a revenue. The deposit must be put in a government-backed tenancy deposit scheme (TDP). Deposit return When the tenancy ends, the deposit must be returned: Within 10 days of both parties agreeing on the returned amount. If a dispute arises, then the deposit will be protected until the issue is sorted out. Deposits made by a third party The landlord must use a government-backed tenancy deposit scheme, TDP, even the Lue lisää →

Balance

Taxable income In general you’ll pay income tax on the revenue you get from renting out a property. The taxable amount is the sum left once you’ve added together your rental income and deducted any allowable expenses or allowances. Your income is primarily the rent you receive but also covers any other payments from tenants for services normally provided by a landlord. If you charge any non-refundable deposits for your property these will also count as rental income, as will the money that’s kept over from a returnable deposit at the end of the tenancy. Allowable expenses a landlord can Lue lisää →