Clear Owner Statements and Commissions for Property Offices: Mirsad
· Cortex Solutions
Owners leave offices they cannot trust. Here is how clear owner statements, commission calculated from collections and a tenant portal build that trust with Mirsad.
In property management offices, an owner rarely leaves because of a vacant unit or a late tenant. They leave because of a simple question that never gets a clear answer: how much rent was collected for me this month, and what was deducted and why? When the answer is slow, or comes with different numbers every time, trust is shaken, and with it the office's relationship with its most important clients.
This article is for owners of property management offices and real estate companies that manage properties on behalf of other owners and want their financial relationship with those owners to be transparent and organised.
Where does the trust problem start?
- Commission is calculated by hand: an employee works out the office's share in a separate sheet, and one wrong number affects the whole owner statement.
- Collection is scattered across cash, transfers and cheques, with no clear receipt for each payment to refer back to.
- Maintenance costs have no clear owner: are they charged to the landlord, the tenant or the property itself? Deductions then appear on the statement that are hard to explain.
- The owner statement is assembled at month end from several files, which takes time and delays sending it.
- Tenants call to ask about their balance or invoice, keeping the team busy answering instead of following up.
How do you solve it?
The answer is not a better spreadsheet. It is recording every financial movement once and linking it to its source: the contract generates the payment schedule, the payment generates the receipt, collection generates the office commission, and commission and expenses appear automatically on the owner statement. The statement then becomes a natural result of daily work, not an extra task at month end.
Mirsad: the owner relationship in clear numbers
Mirsad is a cloud property management platform from Cortex Solutions, designed for the Saudi market, that brings a property portfolio into one system instead of scattered Excel files. These are its main modules as presented on the product page:
- Owners and commissions: property management contracts with owners, office commission calculated from collections, owner payouts, ledger entries and owner statements.
- Collection and payments: VAT invoices, receipt and payment vouchers, collection by cash, transfer or cheque, with a statement for every tenant and every owner, showing who paid, who is late and what remains.
- Leases and rentals: create the contract once and the payment schedule is built, monthly, quarterly, semi-annual or annual, with renewal, eviction and settlement, and notifications sent.
- Maintenance requests: tenants submit requests through their portal, requests are assigned and tracked until closure, and the cost is charged to the property, the owner or the tenant, so the owner knows the reason behind every deduction.
- Properties and units: a register of residential and commercial units, warehouses and land, with title deeds and occupancy rates, and the status of each unit: rented, vacant or under maintenance.
- Office website and tenant portal: a site that shows your vacant units to prospects, and a portal where tenants view their contract, invoices and receipts without having to call.
The product page also states that the interface is fully Arabic and right-to-left, that 15% VAT is calculated automatically, that access is in the cloud from any device with no installation, that each office has its own separate database with backups, and that technical support is available in Arabic.
What does an owner statement look like with Mirsad?
Imagine an owner whose building your office manages. During the month your team records the rent collected from tenants with receipts, and closes a maintenance request whose cost was charged to the owner. Because the office commission is calculated from collections, the owner statement shows what was collected, what was deducted in commission and expenses, and what was paid out, with every number linked to its document. When the owner asks about any deduction, the answer is ready with a specific receipt or maintenance request.
Practical steps to organise your relationship with owners
- Review current management contracts and standardise how commission is calculated in each one.
- Agree in advance with each owner which types of expense are charged to them.
- Record every payment with a receipt, whatever the payment method.
- Set a fixed date for sending statements, and stick to it.
- Direct tenants to the portal to view their invoices and receipts and submit maintenance requests.
Start today
The Mirsad page offers a 14-day free trial with all features and no credit card, with no contract or commitment, and the option to upgrade at any time without losing data. See the details and request the service from the solution page: https://cortex.sa/solutions/mirsad
Or start directly on the Mirsad platform: https://mirsad.cortex.sa
Cortex Solutions is a Saudi software company that builds Arabic business systems, and Mirsad is part of its family of solutions alongside Cortex ERP, Cortex CRM and others. Make the owner statement a reason for owners to stay with you, not a reason to leave.