Owner Floats

Owner floats are the amount of money being held on behalf of the landlord to pay for expenses, instead of deducting the expense from rental income due. This can be particularly useful when there is no active tenancy and therefore no rental income to deduct from.

Head to an owner ledger page and you will see the 'float amount' at the top right of the page which shows the current balance of the float.

In order to add money to an owner's float, there must be available money in their owner ledger balance. With money available, head to the Allocate Funds page and click into that property's allocation.

Here you should enter the amount of money to add to the float in the 'top up float' box on the right hand side.

When payment is allocated, Street will allocate the amount entered in the 'top up float' box into the owner's float, essentially reducing the amount the owner is paid in that allocation but holding that money for future deductions.

To use an owner's float to pay for a charge, head to the allocate funds page and enter the amount to use in the 'use float' box on the right hand side.

You can set an owner's float preference that will automatically suggest to top up the float to the preferred amount (if it is currently less) on the allocate funds page.

To set a preference, head to the ownership page for a property by clicking on the landlords name in the 'owner' section.

On the ownership page, scroll down to the 'owner preferences' section on the right hand side and you'll see a 'maintenance' section where you can click the pencil icon to edit the owner's maintenance preferences.

Here you can set the owner float preference amount which will automatically suggest adding to the 'top up float' section on allocate funds to reach this amount. For example, if the float preference was £250 and there was £100 in the float already, allocate funds would default £150 into the 'top up float' section. However you can manually override this amount by removing the value if needed.