Accounting for letting agencies
Abode is one of only a few providers of client accounting services in the UK. Choosing Abode to manage your client accounting will allow your agency to focus on growing its portfolio. You can leave it to us to make sure landlords get paid on time and never have to worry about the ARLA audit again.
Why you should consider outsourcing to Abode
Our Core Services
Abode Accounting provides essential services to support letting agents, property management agents and landlords in managing their finances efficiently. We process rent received, reconcile client accounts, and handle payments to landlords and contractors. Our offerings also include deposit registration and reconciliation, fee and commission reporting, NRL tax processing, and HMRC payments. Each client has a dedicated account manager for personalised support and access to a support helpline for any inquiries. Our goal is to streamline your accounting processes and enhance overall efficiency.
Processing Rent Received
We ensure that all rent payments received are accurately recorded, tracked, and allocated. This includes handling standing orders, bank transfers, and other payment methods.
Reconciliation of Client Accounts
Our team performs thorough reconciliations of client accounts to guarantee accuracy and compliance with industry standards, eliminating discrepancies and ensuring full transparency.
Payments to Landlords and Contractors
We manage timely and precise payments to landlords, contractors, and other stakeholders, accompanied by detailed statements for clarity.
Deposit Registration and Reconciliation
We handle deposit registrations with the appropriate tenancy deposit schemes and perform periodic reconciliations to ensure compliance with legal obligations.
Fee/Commission Reporting
Detailed and customisable reporting of management fees and commissions to give you insights into your income streams and profitability.
NRL Tax Processing and HMRC Payments
For non-resident landlords, we process tax deductions and manage timely payments to HMRC in compliance with UK tax regulations.
Dedicated Account Manager
A single point of contact for your client accounting needs, ensuring a personalised and responsive service.
Support Helpline
Access our helpline for prompt resolutions to any accounting queries or challenges you may encounter.
Block Management Support
We offer the following optional services.
Service Charge Management
Handling the collection, reconciliation, and reporting of service charges.
Sinking Fund Management
Managing long-term funds for building maintenance and improvement projects.
Financial Forecasting
Creating accurate financial plans to ensure smooth building operations.
Reserve Fund Audits
Ensuring transparency and compliance in managing reserve funds.
Optional Additional Services
Outsourcing to Abode Accounting makes life easier by providing expert property management services that streamline your financial affairs and enhance overall efficiency.
ARLA Audit Support Services
Prepare for and navigate ARLA audits with confidence. Our team ensures your accounts meet ARLA’s compliance requirements, providing pre-audit checks and post-audit support.
Staff Training and Development
We offer tailored training sessions to upskill your team on client accounting, compliance, and the use of accounting software, improving in-house expertise.
Payroll
We manage your payroll operations, including processing salaries, handling PAYE and NIC contributions, and ensuring compliance with HMRC requirements.
VAT Filing
Our VAT services include preparing and filing accurate VAT returns, ensuring compliance with UK tax regulations and saving you time.
Arrears Chasing
Proactively monitor and follow up on overdue payments to reduce rent arrears. We use a professional and systematic approach to ensure prompt recovery while maintaining good landlord-tenant relationships.
Year-End Accounts
We prepare comprehensive year-end financial statements, ensuring they are ready for statutory reporting or for submission to your accountant. This service includes detailed summaries of income, expenses, and reconciliations.
What makes us a strong partner?
Choosing Abode as an external provider to manage your client accounting allows for a free and open working relationship, as well as full, accurate and timely disclosure of all information associated with the delivery of your client accounting.
Being independent of letting agencies and conducting transactions away from your branches means we act only in the interest of our clients, with no hidden agendas, providing complete assurance to landlords and all other stakeholders.
Experience
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
From independently owned businesses to national UK brands.
Track Record
Without exception, we have helped our clients reduce the costs of managing client accounting for their agency.