Refunds
Refunds can be issued to applicants via the application ledger or to tenants via the tenancy ledger, allowing you to send available funds on the ledger balance back to the applicants / tenants.
Examples of where this may happen are if an application falls through and you agree to pay back the holding deposit back or if a tenant has overpaid their rent.
It's important to highlight that in some situations issuing a refund may not be necessary. If for example an error has been made in Street but there are no errors with physical payments, you may be able to instead undo the errors by voiding the relevant entries. For more information, see our voiding entries help article.
Issuing a refund
To get started, head to the relevant ledger and click add > issue refund.
Enter the date and amount to refund, add a description and choose which tenant to pay to. You will be able to select from any tenants on the tenancy and if a tenant have multiple bank account set up, you can select which account. When ready to proceed, click 'confirm refund'.
For more information on managing client bank details, see this help article.
Note - It is only possible to refund a payment if there are available funds on the ledger balance.
This refund will now appear on the ledger as a pending payment.
Paying a refund
Once a refund has been confirmed and is pending on the ledger, head to Payments to Make and go to the 'tenants' tab. Here you will see the pending refund which you can select, choose the bank to pay from and then can click 'pay tenants' to process that refund payment.
This will create a payment file as normal that you can use to make the physical payment.
Street is constantly being updated. This can mean that some of these articles become slightly out of date. If you spot something that looks a little bit different to your Street account, please let us know on the live chat so we can get it updated!