Owners

An owner is the person or organisation whose property you manage. They receive the rent it earns, less the costs of earning it.

An owner is a roll-up

The books live on the unit. The owner view gathers them.

So an owner holding four units has four sets of books and one summary across them. You can answer “what did this owner receive in March?” and “what did Flat 12 earn in March?” — the second question is the one that is hard to answer in a system anchored on the owner, and it is the one an owner asks when they are deciding whether to keep a property.

What the owner sees

Owners get their own portal. In it they can see each unit they hold, its income and costs, the statements behind every payout, and documents shared with them.

They cannot see anything about another owner, and they cannot see what a tenant is charged beyond what appears on their own statement.

Owner charges and tenant charges are kept apart throughout. A management fee is a cost to the owner and is never visible to the tenant — see charges and templates.

When the owner is not a person

Property is often held by a trust or a company rather than by the individual who deals with you. That is a real distinction — the invoice must be addressed to the entity that owns the title — and Domi Vera records it separately. See owning entities.

Getting paid

Domi Vera never moves money. What it does is work out what the owner is owed and produce the record of it: rent collected, less expenses, less your fee, equals the payout. You then make the payment from your own bank account and record it.

See expenses and disbursements for what reduces a payout, and statements for the document that explains it.

Owners as guarantors

An owner can stand surety on a lease — for a family member, say. They remain an owner; the surety is recorded on the lease. See guarantors.