The problem, specifically
Two jobs, one tool. Tracking rent means knowing which tenant paid, when, and whether they are drifting later each month, which is a filter on a spreadsheet and a squint at a PDF. Referencing means reading a prospective tenant's statements for affordability, and doing it fairly rather than on an impression formed halfway down page three.
A workflow that works for landlords and letting agents
- For your own accounts, convert the statements for the period and add a column for the property. Rent credits usually carry a consistent reference, so sorting by description groups each tenancy together.
- Check the payment date pattern per tenant rather than just the amount. A tenant sliding from the 1st to the 12th over six months is the signal worth having early.
- For referencing, convert the applicant's statements and total income against committed outgoings over the same period. Compare like with like rather than a good month against a bad one.
- Keep your own rent record with the statements. For a UK self-assessment property page, or a US Schedule E, this is the evidence.
How many pages this usually takes
A landlord with a handful of properties on one account is converting 12 to 30 pages a year. Referencing adds three to six pages per applicant, which is small but frequent.
Your first conversion runs without an account, so you can test the output on a real statement before deciding anything. A free account adds 7 free pages, and the monthly plans are priced by page count, which means you can move up a tier for a busy month and back down afterwards.
Deadlines and rules in the UK and US
UK landlords report rental income through self-assessment and, since the mortgage interest changes, need clean interest and expense figures rather than a rough total. US landlords file Schedule E per property, which makes the per-property column worth adding from the start rather than reconstructing later.
The part worth getting right
On referencing, be careful and be fair. A bank statement shows a great deal more about someone than their ability to pay rent, and both UK and US law limit what you may take into account. Look at income against committed outgoings over a consistent period, and do not go fishing.
Landlords and letting agents FAQs
How does a bank statement converter help with rent tracking and tenant referencing?
Two jobs, one tool. Tracking rent means knowing which tenant paid, when, and whether they are drifting later each month, which is a filter on a spreadsheet and a squint at a PDF. Referencing means reading a prospective tenant's statements for affordability, and doing it fairly rather than on an impression formed halfway down page three. Converting the statements puts every transaction into columns you can sort, filter and total, which is the part that is not practical to do by eye in a PDF.
Can I ask a prospective tenant for bank statements?
Commonly yes, as part of affordability referencing, but what you may then do with them is limited. UK data protection rules require you to collect only what you need for that purpose, keep it no longer than necessary, and hold it securely. US fair housing law prohibits decisions based on protected characteristics, which a statement can inadvertently reveal. Assess income against outgoings and disregard the rest.
How do I track rent across several properties in one account?
Convert the statements, then add a property column and tag each rent credit. Tenants usually pay with a consistent reference, so sorting by description does most of the work. Once tagged, a pivot table gives you rent received per property per month, which is the figure both a UK property page and a US Schedule E want.
How many pages will I need?
A landlord with a handful of properties on one account is converting 12 to 30 pages a year. Referencing adds three to six pages per applicant, which is small but frequent. Your first conversion needs no account, a free account adds 7 free pages, and the monthly plans are priced by page count.
Can I convert scanned statements and photos?
Yes. Scanned PDFs, JPG and PNG files all go through OCR. Text-based PDFs are read directly and tend to be the most accurate, so use the original download when you still have it.
What happens to the statements I upload?
Uploads travel over a 256-bit encrypted connection, and files are deleted from our servers 24 hours after upload. Conversion is fully automated, so no member of staff opens your statement, and nothing is passed to a third party.
Other situations
Freelancers, Accountants and bookkeepers, Small business owners, Mortgage and loan applicants, Tax filers. There are also pages covering the export limits and statement archives bank by bank, or you can start from the main bank statement converter.