In most cases, we charge a Security Deposit equal to one and a half month’s rent. However, if the applicant has little to no credit history due to explainable reasons such as recently graduating or relocating from abroad, we will request an increased security deposit to up to two months’ rent.
Owner disbursements of net rental proceeds are processed between the 6th and 13th day of each month. Rental proceeds are electronically transferred directly into your personal bank account via ACH (automated clearing house). In most cases, proceeds will settle into your account between the 8th and 15th day of each month dependent on weekend and holidays.
On a monthly basis, you will receive a rental owner statement that details the income and expenses that have occurred over the prior month. On an annual basis, you will receive a Year-End Balance Sheet, Year to Date Profit & Loss report along with a 1099-MISC tax form that your accountant will be able to use for tax filing purposes.