Why Letting Agents Choose BankScan AI
Letting agents managing tenant deposits, rent collection, and landlord payments across client money accounts need meticulous reconciliation.
How BankScan AI Helps Letting Agents
Convert your client money account statements to Excel for fast reconciliation of rent receipts, deposit transfers, and management fee deductions.
The Letting Agents Bank Statement Workflow
For letting agents, the core challenge is turning unstructured PDF data into actionable, organised records quickly enough to stay on top of deadlines. BankScan AI eliminates this bottleneck by handling the data extraction automatically, so letting agents can focus on analysis, client advice, and compliance rather than manual data entry.
How Letting Agents Use Bank Statement Data
Letting agents collect rent from tenants into client money accounts, deduct management fees, pay landlords their net rent, handle deposit protection scheme transfers, and manage maintenance contractor payments. Monthly landlord statements must reconcile exactly with the client money account bank statement, with every penny accounted for.
Key terms you'll encounter: client money protection, landlord statement, tenant deposit scheme, management fee, rent arrears.
How It Works
Upload any bank statement PDF
Supports all major UK and US banks. Saves 3-4 hours per week on client money account reconciliation for a letting agent managing 100+ properties
AI extracts every transaction
Our AI reads the PDF and pulls out dates, descriptions, amounts, and balances — formatted for letting agents workflows.
Download your spreadsheet
Get a formatted Excel file ready for Goodlord, Arthur Online, PayProp or direct analysis.
Peak Period Tip for Letting Agents
Month-end for landlord payment runs and client money reconciliation, plus September-October for the student letting cycle and January-March for renewal season
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features Letting Agents Love
- Built for Letting Agents — Saves 3-4 hours per week on client money account reconciliation for a letting agent managing 100+ properties
- Software compatible — Output works directly with Goodlord, Arthur Online, PayProp
- Peak period ready — Handles high volumes during month-end for landlord payment runs and client money reconciliation, plus september-october for the student letting cycle and january-march for renewal season
- Solves your challenges — Reconciling hundreds of tenant rent payments arriving with different references and amounts against the property portfolio schedule
Compliance Considerations for Letting Agents
When handling bank statement data, letting agents must comply with relevant regulations.
- Letting agents must comply with Client Money Protection (CMP) schemes, which are now mandatory. The Tenant Fees Act 2019 restricts chargeable fees. Deposit protection within 30 days is a legal requirement. ARLA Propertymark members face additional auditing of client money accounts. Anti-money laundering rules apply to property transactions.
Start Converting — Built for Letting Agents
Join letting agents across the UK who save hours every week with BankScan AI.
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