Conservice bills your Property's ledger on the date that payment is due and your Resident's ledger on the 29th of each month.
Conservice charges are applied to both Properties and Residents, meaning the utilities are not in your name when your home is occupied; however, payment for those utilities will initially come out of the account balance available on your Property.
On the 29th of each month, Conservice will post the recoverable utility expense to your Resident's ledger, making the charge amount available for them to pay when their rent is due.
This means that you can expect to see equal amounts of both negative and positive Conservice payments in your Expenses section on your monthly statement over the course of your resident’s lease term.
When you see a negative Conservice charge in the Expense section of your monthly statement, this indicates that your resident’s utility payment has posted, and you are now being reimbursed.
When you see a positive Conservice charge in the Expense section of your monthly statement, this indicates that the resident-reimbursable utility bill has been paid for from your home’s account balance.
Here's an example of how Conservice's utility expense recovery may be recorded on your Property's ledger:
Notice how the same amounts that were initially charged to the example Property ledger were reimbursed the following pay period from the Resident ledger.
Keep in mind: Great Jones delivers a Monthly Statement on the 1st of each month for the prior month's transactions, meaning if you owned 123 Main St. in the above example, your February 2020 statement would only show the Conservice expenses posted on 2/28/20. Your March 2020 statement, however, would show the Conservice reimbursements posted on 3/1/2020.
Please note that if your Resident’s rent due date is not on the 1st (because they’re on a prior management company’s lease), the dates that your utility expenses will be reimbursed may vary slightly.