LRG Landlord Statement FAQs

When will I receive the payment shown on my statement into my bank account?

Payments are sent on the next working day. For example, if your payment shows as paid on a Monday, you will receive it in your bank account on Tuesday.

Why does my rent show as part paid?

If you have received a part payment, this is likely because your tenant hasn’t made a full payment, or you have more than one tenant in the property, and they do not make a payment together but from separate bank accounts.

Why does my management fee show under expenditure and invoicing?

Your management fee has not been taken twice. Statements are also used as invoices for tax purposes. Any figures shown under the closing balance are for reference only and do not represent a movement on your account.

What is the difference between float and reserve funds?

The float refers to retained funds which are not held against any specific invoices. The float allows us to act on your behalf in an emergency — for example, arranging repairs or maintenance at short notice — up to a level where we have sufficient funds to cover contractor costs and you have agreed is acceptable.

Reserve funds are only held when there are agreed works or planned maintenance on your account — for example, when we book an Annual Gas Safety inspection or another safety inspection. No reserve funds are held when there is no planned maintenance or work.

What are pending invoices?

Pending invoices are invoices on your account that we currently don’t have funds to pay. We shall pay these when we next receive funds into your account, e.g. when your Tenant pays their rent, or if you make a payment directly to us.