In this guide 6 sections
Track rent received against rent due, credits nobody has matched, lease dates coming up, repair tickets with their bills, service dates on lifts and pumps, and deposits due back. Each one feeds the owner statement. Where a building runs as a PG, GullySystem’s Paying Guest Management System holds beds, bills, deposits and dues.
Rent due, rent received and the credits nobody can name
Start with the rent roll. For every unit, compare the rent due this month with what has arrived. The difference is your follow-up list for the week.
The harder part is the credit with no clear sender. A UPI handle nobody at the office recognises can sit unmatched for days. Keep unmatched credits on their own list, and clear it before the owner calls.
Dates that hide inside agreements
Most residential lets run on eleven-month leave and licence agreements. Each one carries dates that matter later. If they live only in a PDF, a rent rise can be noticed months late.
Pull the dates out into one list per building. Review the next ninety days at the start of every month. Short and boring work, but it pays.
- Agreement start and end dates
- Escalation date and the agreed increase
- Lock-in end date
- Notice window for either side
- Society maintenance due dates
Repairs, vendors and the bills behind them
Owners ask why money went on plumbing. Answer from a ticket, not from memory. Each repair should carry the complaint, the photo, the vendor, who approved it and the bill.
Planned upkeep needs the same discipline. Lift, generator, pump and fire equipment contracts each have a next service date. List the ones due this month and the vendor responsible.
Deposits and move-outs
Deposits cause the sharpest disputes. Without a dated check-in note, a deduction is hard to defend. Record the condition of the unit when a tenant joins.
Each month, list the tenants on notice and the deposits due back. Inspect against the check-in note, and show every deduction line by line. Tenants accept a clear calculation more readily than a round figure.
Turning the month into owner statements
The owner statement is where all of this lands. Keep one format, send it on a fixed date, and build it from the records above. Rebuilding it from three sheets is what eats the first week.
Buildings differ, so records differ. A PG is tracked bed by bed, with rent and food on one bill. A shared office floor is tracked by seat and meeting-room hours.
A clean spreadsheet can handle a handful of flats.
- Rent collected for the month
- Expenses paid, with bills attached
- Management fee
- Net amount remitted and the date
- Deposits held for the owner’s units
Monthly property review checklist
List each building down the left. Across the top, add rent due, rent received, unmatched credits, lease dates in the next ninety days, open tickets, service dates and deposits due. Fill it before the owner statements go out. Gaps show which record to fix first.
Open a blank worksheet to printQuestions owners ask
What should an owner statement show?
Rent collected, expenses deducted with their bills, the management fee and the net amount remitted. Owners also value a short list of open repairs and upcoming lease dates.
Does the PG system list our rooms on property websites?
No. It is not a booking portal and will not bring you tenants. It tracks beds, tenants, deposits, bills and dues once a guest is booked.
Can rent and food go on one bill in a PG?
Yes. The monthly bill combines rent, the food plan and extras such as laundry or electricity, so the tenant sees one total.
Is a spreadsheet enough for a small portfolio?
Often, yes. A clean sheet handles a few flats. Software starts to pay when buildings, owners and statement formats multiply.