A game changer for landlord clients: automatically capture and categorise rental statements

June’s a big month. The World Cup is underway, and somewhere an accountant with unincorporated landlord clients is staring down a letting agent rental statement - trying to reconcile one net bank payment against a mix of rent, fees and repair costs. 

We can’t help with the right football result. But we can help with making MTD more efficient for those clients. Rental statement capture and categorisation is a new feature exclusive to FreeAgent for Landlords (our account type specifically for unincorporated landlords), which transforms messy letting agent statements into structured, categorised and reconciled entries. Automatically and at no extra cost.

Same fixture, different formation every month

If you work with landlord clients, you’ll know exactly what we mean. Every month, letting agents send out rental statements. On paper, they look straightforward enough. But a single statement can be a jumble of rental income, management fees, repair costs, contingency balances and a net payout.

To record this accurately, you’d need to create separate sales invoices for rent, individual bills for fees and repairs, and assign the correct accounting categories across different parts of the app - then reconcile the final bank payment against all of it. For practices managing multiple, or hundreds, of landlord clients, that adds up fast. 

A new signing for your landlord workflow

Our new feature captures and categorises rental statements using AI to lighten the load. All you need to do is upload the letting agent’s statement. Then FreeAgent will extract rental income and fee data, match line items to the correct property, assign the right accounting categories, and reconcile the final net bank payment in seconds. 

Instead of manually creating multiple invoices and bills, users can now manage the entire workflow from one rental statement.

VAR you can trust 

Rental statements are rarely clean or consistent. Whatever layout, format or terminology a letting agent uses, FreeAgent has you covered. Our AI extraction layer uses LLM-powered automation to transform complex rental statements into structured digital entries automatically.

Our rental statement capture includes:

• extracting raw text from uploaded PDFs
• identifying statement dates and property references
• parsing individual line items
• categorising entries as rent, fees, repairs and more

The result is a far more accurate starting point for both you and your landlord clients. 

Tackle admin, win clients

FreeAgent for Landlords is the complete accounting solution for supporting your unincorporated landlord clients. 

Alongside rental statement capture, it also includes:

• bulk and automated quarterly MTD submissions to manage high volumes of clients, consistently
• property ownership splits lets you apply the correct split across the portfolio
• a single licence covers an entire portfolio, so you can file MTD submissions for multiple co-owners in one account

In other words: more clients, less admin, better margins.   

Please note that if your client has an existing sole trader FreeAgent account, they would need to open a new FreeAgent for Landlords account to use property-specific features including rental statement capture and categorisation.  

If you’d like to give FreeAgent for Landlords a try, check out our FreeAgent for Landlords hub. If you’re already a Partner (great choice), your Account Manager is always happy to answer any questions you may have.