Why haven’t I received my Monthly Rental Income for all of my properties?

We are just as motivated to collect rent from your residents as you are and begin outreach to delinquent residents immediately.

If your resident is under a Great Jones lease, their rent will be due on the 1st of each month. While we offer a short grace period, we begin outreach to delinquent Residents as soon as possible and begin posting delinquency notices on the 6th of each month. Typically, once we get a hold of Residents, we are able to recoup payment and get them back on track to paying rent on time. 

 

If your resident is under a lease from a prior property manager, their rent payment schedule will be subject to whatever due date and late fees are listed in their existing lease. Similar to our collections efforts for Residents placed by Great Jones, we are reaching out daily to recoup payment and ensure Residents get back on track to timely rent payments.

 

When a Resident’s late rent clears after the 9th of the month, this Monthly Rental Income will be included in the 2nd distribution, the last business day of the month.

 

Rest assured that we are just as incentivized to collect rent from your Residents as you are given that we never charge management fees until rent has been collected.

 

If you notice that rent was collected on your homes but the amount collected does not match your Owner Distribution, please review these additional details.