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Accounting and owner reports

Where your money is held, what your statement shows, and the tax paperwork you get each year.

Your books, month by month

Every month closes the same way.

  1. All monthMoney is held in trustRent and security deposits sit in fiduciary trust accounts at an FDIC-insured bank, apart from Eclipse's own money.
  2. As bills come dueBills get paidRepairs, utilities you cover, and recurring bills you ask us to pay.
  3. Last business weekWe close the monthRent collected, less fees, repairs, bills paid, bills due and any rent paid ahead.
  4. On or around the last business dayYou get paidThe balance goes to your bank by electronic deposit.
  5. 1st or 2nd business day afterYour statement postsIt is in your Owner Portal with the invoices from the month.

What you get

Owner Portal24/7

Your documents, statements and transactions any time, with PDF reports and graphs of income and expenses over time.

Year endJanuary

A year-end summary statement for your taxes, and a Form 1099 when the law requires one.

Before you are paidForm W-9

We need a current W-9 before any payment, and a new one each year. Payments wait until it arrives.

Security depositsHeld in trust

Tenant deposits stay in a trust account until the tenant moves out and the deposit accounting is done.

Your reserve1 month's rent

Per unit, up to five units. It is your money, held in our trust account, and it comes back to you when management ends.

QuestionsOwner Help

Send a question through the Owner Help form and it goes straight to your property manager. Our goal is to answer by the next work day.

Your statement

What each month shows

Every dollar in and out, with the invoices. Every repair shows on your statement, and the vendor's invoice is in your Owner Portal.

On the Landlord plan, the management fee is 12% of rent collected or $157 per unit, whichever is more. See the other plans.

Tenant fees under the lease, such as late fees, are credited to your account when collected, then paid to Eclipse for the work they cover.

Bills

What we can pay for you

When you start, we set up utility and vendor billing. After that, we can pay any recurring bill you ask us to. We do not normally pay your mortgage or property taxes.

You have one property manager as your main contact. If you ask, we will sit down once a year to talk through your goals for the property.

More answers: How the money moves · Your first months · Help with my owner reports · All owner questions

Other parts of the job: Maintenance and repairs · Rent collection · Tenant screening · Marketing and leasing

Want to see the numbers for your rental?

Tell us where it is. Chuck Kelley, our Broker/Owner, will look at it and tell you what it should rent for. No obligation.