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When do you process monthly payments and statements to owners?
This is an important thing here that we’re talking about because we want to make sure that you understand as an investor when you can expect funds to be deposited to your account, when you can receive statements. When rent comes in between the 1st and the 5th, we have a period of time that we’ve got to make sure that that clears, and then we have the time that we’re paying vendor bills, utility bills, other sort of bills that might come in. By the 10th of the month we have things ready to be sent out. On the 10th or the next business day, if it happens to be a weekend or holiday, we’re initiating the deposit, which will hit your account usually within a day or two after that. We’re also sending you the owner statement so you can review a report of income, expenses, anything else that happen to flow through your account during that time.
We hope this is helpful just to make sure you are aware of when to expect these payments. If you have any questions, feel free to reach out to our team. We’re more than happy to help you out.