Updated Properties Page (Desktop)

We’ve updated our properties page to give users more information faster and improve the overall experience of using Landlord Studio.

(This update is currently only available for US users.)

What’s changed?

These changes have been based on user feedback with the aim of making your property management more efficient, especially with the launch of our Online Rent Collection feature.

Quickly identify which properties have and don’t have online rent collection enabled as well as the tenants payment status.

 

Tenant Details on Hover

You can now hover over a tenants name to get a full list of the current tenants linked to a property. Additionally, if you have enabled online rent collection on the property, you can see here whether or not they have completed their setup for online rent collection.

The tenant’s status will either be Not Invited, Invited, Manual, or Auto-pay.

Read more about the tenant statuses here.

Outstanding Payment Details on Hover

The rent amount now updates if payments have been scheduled through the online rent collection feature or if a partial payment has been made.

When you hover the mouse over the outstanding amount you will get a break down of the total amount due, any scheduled payments, and details of partial payments.

 

New Payment Statuses

Alongside the new dynamic payment amounts, we’ve also introduced new payment statuses.

Overdue

The rent is overdue and the tenant has not made any effort to pay the rent using online rent collection.

Due Soon

Rent is due within the next 7 days.

Due Later

Payments are up to date and no further rent due within the next seven days.

Multiple Statuses

This occurs when there is more than one valid status. For example, a tenant has scheduled a payment for part of the rent amount. This would then be both overdue and scheduled.

Scheduled

The tenant has scheduled the payment through the online rent collection but the payment has not yet been made eg. the money has not yet started the transfer.

Processing

Payment has been initiated by the tenant and is processing through the ACH system.

Unreconcile & Ignore Transactions (Mobile)

We've rolled out the ability to unreconcile and ignore transactions to mobile.

This allows you to unreconcile a transaction made incorrectly, for example, against the wrong unit quickly and easily from the bank feeds page and delete the related transaction that was created simultaneously.

Additionally, we have created an option to remove/ignore transactions that aren’t related to your property from your bank feed.

Tap unreconcile and you will be given the option to delete the corresponding transaction.

Hit the three dots to ignore a transaction. This will remove it from your bank feed.

This update is now available on both desktop and on mobile devices.

Find out More About this Feature

Invite your Accountant to your Organization

You can now invite your account to have view-only access to your reports.

To invite your accountant. (Currently on desktop only)

Step 1: Log in to our desktop portal.

Step 2: Click on "More"


Step 3:
Select "Users and Permissions".

Step 4: Click “Invite User”.


Step 5: Enter your accountant’s name, email address, and a personal message.


They will be added to the user page showing their status as pending.


Your accountant will then receive an email with a unique link to set up their account.

Once the click on it and enter a password they will have full access to the same reporting functionality as you.

They can log in at any time to view your account and run reports. They cannot view your dashboard, your individual properties, or edit any data.


On your page, you can view who has access to your account at any time and revoke that access using the three dots to the right of their status chip.


Ability to Import Directly From Cloud Storage (Incl. Dropbox and Google Drive)

You can now import documents directly from your connected cloud storage on mobile devices.

This includes major cloud storage systems such as Google Drive and One Drive.


Enable Partial Payments for Online Rent Collection

You can now choose to enable partial payments on the Landlord Studio system.

By enabling partial payments you are allowing your tenants to adjust how much rent they choose to pay.

It is recommended that you only enable partial payments if you have first agreed with your tenants on this.

Partial payments is currently a global setting meaning they can't be applied to individual properties. The default setting is "Off".

You can enable partial payments in the General Settings




Once enabled all your tenants paying via Landlord Studio will be able to adjust the amount of rent they choose to pay at any one time. Future updates will add additional control to this setting.

Unreconcile and Ignore Transactions in Bank Feeds

You can now unreconcile transactions. This means if you reconcile a transaction erroensously or against the wrong unit you can quickly and easily unreconcile and delete the related transaction simultaneously.

Additionally, we have created and option to remove/ignore transactions that aren’t related to your property from your bank feed.

This update is currently only available on desktop but will be rolled out to mobile soon.

To Unreconcile a Transaction

Locate the reconciled transaction you want to unreconcile.


Click on the 3 dots beside the greyed-out button that reads reconciled.


Select "Unreconcile".

You will get a pop-up that asks if you want to delete the corresponding expense.


Select yes if you do and this will erase the income or expense from the location it was reconciled against.

The expense will now show up in your bank feed ready to be reconciled.


To Ignore a Transaction

Not every transaction is a deductible expense or a related income that needs to be tracked for your end-of-year taxes.

For those transactions in your account that are not relevant to your rental property and you don’t want to track you can ignore them to remove them from your feed.

Locate the relevant expenses.

Click on the 3 little dots next to the unreconciled transaction.


Select Ignore.


Note: You can undo this at any time.


Payment History Location Update for Android

To make it easier to review and edit your payment history we have made it so you can now view the currently selected leases payment history at the bottom of the property page on Android devices.

View and Edit Payment History

Improved Property Selection in Bank Feeds

Search property when reconciling bank feeds

To make it easier and faster to select the correct property to reconcile a transaction against we have created a search function.

Simply start typing the property address select the relevant property to reconcile the transaction against.

Sub-units are displayed under their parent property on bank feeds

Additionally, to make it easier to find the correct unit we have grouped HMO's together with all of the sub-units listed alphabetically under the parent property.

Tenant Rent Payment Status Chip

We have introduced a status chip so that landlords can see whether or not their tenants have completed the setup and are ready to pay their rent through Landlord Studio.

The status chip can be found underneath the tenant's name on the relevant property and will read one of the following: Not Invited, Invited, Manual, Auto-pay

Not Invited

If the tenant has not been invited the status chip will show up as red and read uninvited.


Invited

When the tenant has been invited but has not completed their set up the status chip will show ups blue and read Invited.


You can resend the invite to your tenants to set up Online Rent Collection if the tenant hasn’t received it, or the link has expired. Simply click on the status chip and select Resend Invite.

Please make sure you’ve entered the correct email address and that your tenant checks their spam folder for the email.

Manual

When the tenant has completed the setup on their side and is prepared to pay the status will be green and read either “Manual” or “Auto-pay”.


Manual means the tenant has opted to turn off the auto-pay feature. They will need to log in every month to confirm their rent payment through the system.

Auto-pay

Auto-pay means the tenant has the Auto-pay feature enabled. The rent will be deducted from their account automatically at the same time each month.

Tenants can turn this off at any time as well as view their upcoming and historical payments in the tenant portal https://tenant.landlordstudio.com/

Connect Bank Manually for Online Rent Collection

If your bank isn't listed with Plaid but you want to use our online rent collection feature you can manually connect your account using micro-deposits.

Select "Add bank account manually".

Enter the bank name, account number, and routing number, and hit save.

How to Set up Online Rent Collection.