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  • Help, I don't know what my accountant is talking about.

    I've been asked for the Owner Statements and have been though all my documents which I keep neat and tidy but can't find it. I have no idea who to approach to get a copy.
    Help please.

    TIA

  • #2
    Why don't you just ask what they mean?
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    • #3
      I did, they are talking in accounting talk - I'll keep asking.
      I just thought maybe someone on here would be able to explain in normal lingo.

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      • #4
        State that You are the Owner.

        That'll stump them.

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        • #5
          Originally posted by PPI View Post
          I've been asked for the Owner Statements and have been though all my documents which I keep neat and tidy but can't find it. I have no idea who to approach to get a copy.
          Help please.

          TIA
          Ask them to provide you with an example, then you know what they are talking about.
          Cheers
          Charlotte30

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          • #6
            It's not a term I've heard before.
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            • #7
              Yeah I've never been asked for one before.
              I googled it and it seems a pretty straight forward document but not one I've ever been given.

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              • #8
                so is this the statement the PM gives you at the end of the tax yea that states how much rent they collected and what they paid etc?

                I get them each year - bit of a pain as they always take a 1st April to 31st March year for the rental income but that doesn't always coincide with the payments to me (ie rent collected 30 March but paid to me 1st April - I treat the income as in the next year).

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                • #9
                  Originally posted by PPI View Post
                  I've been asked for the Owner Statements and have been though all my documents which I keep neat and tidy but can't find it. I have no idea who to approach to get a copy.
                  Help please.

                  TIA
                  Maybe if you kept them messy it might be easier.

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                  • #10
                    Yeah thats the one Wayne but I didn't get a copy.

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                    • #11
                      ask the PM for one - the software they use should be able to produce it easily.

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                      • #12
                        Your accountant is probably referring to a summation of all your income & expenses for that property . Your income for the property will be all rents you received for the financial year 1st April 2011 to 31st March 2012 . Your expenditure for that property will be made up of : rates, insurance,mortgage interest, maintenance & repairs etc. Only you as the owner are in the best position to supply the figures for these.

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                        • #13
                          all that stuff will be in your books - if you seperate them all out then you have done the accountants job. I think it is confirmation from the PM on their view of income and expenditure (your account only sees the net amount (ie rent minus PM fee and mtce etc)).

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                          • #14
                            Hi - PII I think mrsaneperson is correct but please confirm when your accountant lets you know I'm super curious now

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                            • #15
                              Owners Statement?

                              When I read this I was thinking of a body corporate statement or something similar showing the body corporate income and expenses. But you would normally call this a set of accounts (or financial statements) for your body corporate.

                              A Property Manager would normally supply a summary of the years transactions, or a summary of rent received and outgoings from the rent. But this would normally be called an annual property summary, or annual rent summary or something similar.

                              I'm also interested as to what your accountant meant by this?

                              Ross
                              Book a free chat here
                              Ross Barnett - Property Accountant

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