Many owners enjoy having access to their financial statements at their convenience. These statements are useful in making projections for the upcoming year as well as providing documentation for tax purposes.
Monthly statements are available via your portal, typically by the 10th of the month. These statements provide a quick way to understand how the rent money was applied. There are four general areas where rent money is applied.
The management fee is deducted from the rent received in accordance with your Management Agreement.
Maintenance expenses are itemized and deducted from the rent received in accordance with your Management Agreement.
Other expenses such as the eviction protection plan payments or expenses that you have asked Real Property Management Service to submit on your behalf are itemized and deducted.
The owner draw is the amount paid to you after expenses are deducted.
You will also receive a statement encompassing the entire year.