Good question.We pay you the rents the same month we receive them.
Some property management companies have what’s called a “holdover”. They wait some preset amount of time before paying you the rents collected from your residents. We do not do that. We pay you the rents the same month we receive them.
Even more specifically, we pay out rents twice a month so you get your money faster:
- We pay by the 10th of the month (for rents received on the 1st-9th) - you receive by the 15th
- We pay again on the last day of the month (for rents received after the 9th) - you receive by the 30th
(Our rents are actually always due on the first, but in the event we inherit a resident who has other lease terms, or in the event a resident is late on payment, we want to be able to deliver those payments to you same month, which is why we have the payout on the 25th as well).