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When Owners is enabled on your account, Yorlet creates a platform owner account for you. It represents your own business in the flow of funds: every fee, expense or tax you collect from an owner is credited to your platform account unless you choose a different destination. Your platform account holds the money you have earned from owners, separately from client money still owed to them. Paying out your platform account moves those earnings from your client account to your business bank account.

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What is credited to your platform account

  • Management fees, tenant find fees and renewal fees collected automatically from landlords.
  • Any collection you create without a Destination.
  • The Platform fee you keep when a collection is routed to a supplier.
  • Non-resident tax deducted from landlords, unless you route it elsewhere in your routing settings.
  • Invoice line items with the none transfer behaviour are not transferred anywhere, so they never reach the platform account balance; they stay in your Yorlet Payments balance.

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Differences from other owner accounts

Your platform account works like any other owner account, with a few differences:
  • Yorlet creates it for you. You cannot create one yourself, and you can only have one.
  • It does not need full identity verification before it can be paid out.
  • You cannot charge it with collections, send funds to it, or reserve funds on it. To return money to another owner, refund the collection that took it. See Refund a collection.
  • You can attach more than one bank account for payouts.

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View your platform account

Your platform account appears on the Owners page with the type Platform. Use the Type filter to find it. Open it to see its balance and activity, exactly as you would for any other owner.

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Pay out your platform account

Create a payout from the platform account’s Balance section, or set a payout schedule on it so Yorlet creates payouts for you. Approve and pay the payout as you would for any owner.