Property glossary
Landlord statement
Also known as: owner statement, landlord remittance statement
A periodic statement from a managing agent to a landlord showing rent collected, deductions and the net amount paid over for the period.
Definition
A landlord statement is the account a rental managing agent renders to a property owner for a given period, usually monthly. It sets out the rent and other income received, the agent's commission, maintenance and supplier costs, any other deductions, and the resulting net amount remitted to the landlord. It gives the owner a transparent reconciliation of every cent that moved through the agent's trust account on their behalf.
In the South African context
Rental agents who collect rent are property practitioners under the Property Practitioners Act 22 of 2019 and must hold a Fidelity Fund Certificate, keep tenants' and landlords' money in an audited trust account, and account fully to the landlord. The landlord statement is the practical mechanism for that accounting and for showing how trust money was applied. Accurate statements also support the landlord's own tax and POPIA record-keeping obligations.
Example
For one month the statement shows R12 000 rent collected, less R1 200 agent commission, less a R650 plumbing repair, leaving R10 150 paid into the landlord's bank account, with the supporting invoice attached.
Why it matters
The landlord statement is the owner's proof that trust money was correctly collected, applied and remitted, making it essential for transparency, dispute resolution and the agent's trust-accounting compliance.
Informational only — not legal advice. Confirm specifics against the current Act and your scheme’s rules.
Sources
- Property Practitioners Act — Act 22 of 2019 — rental practitioners must keep an audited trust account and account to landlords for money handled