Each month we total the rent we collected for you, then subtract our fees, repairs and bills paid, any bills that are due but not yet paid, and any rent a tenant prepaid for a future month. We send the balance to your bank electronically on or around the last business day of the month. Your monthly statement posts to your owner portal on the first or second business day of the next month.
Your first payment is usually smaller, and it usually takes a month or two to arrive. The setup fee and your reserve come out of the first rent we collect, unless you fund the reserve yourself, and prepaid rent and unpaid bills are held back too.