Accounting for Letting Agents
You've got deposits in a spreadsheet, rent ledgers scattered across emails, and a tax deadline looming. That's the accounting letting agents face when they're using tools built for everyone but optimized for no one.
Why Accounting for Letting Agents Matters
Letting agents manage multiple rental properties, each with its own ledger, deposit account, and tax reporting line. Standard accounting software treats you like a plumbing contractor—it works, but you're paying for features you don't use and missing the specifics you do. A property portfolio doesn't just need invoices; it needs rent ledger tracking, deposit reconciliation, and VAT-ready statements for each tenancy. As your portfolio grows from one house to five to twenty, spreadsheets collapse. You need a system that understands multi-property accounting from the ground up.
What's Included
Invoicing from templates — Generate rent invoices, deposit statements, and maintenance invoices in seconds. No more copying figures between sheets.
Rent ledgers by property — Track income and expenses for each property side by side. See which units are profitable, which are costing you money.
VAT compliance ready — Built-in VAT calculation and reporting. When the tax return comes due, your figures are clean and exportable.
Tenant statements — Print or email statements showing rent paid, deposit held, and outstanding balances. Cuts your admin time and looks professional.
Multi-currency support — Manage properties and rents in GBP, EUR, or USD without manual conversion headaches.
Pricing & Process
Start with a 14-day free trial—no card required. The free tier covers sole traders with one property; the Small Business tier handles up to 5 properties and unlimited invoices. Pricing is well below the category leader—see the pricing page for current rates. You get invoicing, VAT reporting, and rent ledgers. No integrations to wire. No Zapier tier. Just one login.
The setup takes an afternoon. Import your existing properties and tenants via CSV or enter them by hand (takes 10 minutes per property). Connect your bank account if you want live reconciliation; it's optional. Then send an invoice from a template and you're live.
Frequently Asked Questions
Q: Can I manage multiple properties in one account?
A: Yes. Each property gets its own ledger and income/expense breakdown. You see the P&L for the whole portfolio at the top, and drill into individual units below. When January arrives and you need to file your self-assessment, the tax-ready P&L is already there.
Q: What about deposit accounts and money held in trust?
A: Deposits held in tenancy protection schemes appear as a separate liability. The system lets you track them—you're holding see pricingk in deposits across 12 properties, for example—but they don't artificially inflate your profit figure. When you return a deposit minus deductions, the split records cleanly.
Q: Do I need an accountant if I use this?
A: Not necessarily. If you're a sole trader or small partnership, you can file your own self-assessment. Our P&L and records are HMRC-ready. That said, if you want a professional doing your return, you'll find their job easier—they've got clean figures to work from, not three spreadsheets and a folder of receipts. You're likely to save money on accountant fees too.
Q: What if I'm VAT registered?
A: The system tracks VAT separately on every invoice and expense. At quarter-end, your VAT-due figure is calculated automatically. You export the filing details and submit to HMRC online. If you're not VAT registered yet but cross the threshold, the system scales up with you.
Q: Can I integrate this with my bank or other tools?
A: Bank connections work out of the box—you authorize once, and transactions pull daily. If you use a property management tool or a booking system, integration depends on what you're using; contact support and we'll see what's possible. No Zapier tier required.
Rent ledgers, VAT compliance, and tax-ready P&L in one place. Stop juggling spreadsheets. Start a 14-day free trial at relentify.com—no card, full access. Most letting agents know within a week if it saves them time.