Marchant Property Management Blog

Hi, everyone. Brittany with Marchant Property Management here for Talk About It Thursdays. Today, I'm going to be answering a very important question that I receive from owners, and that is about owner payments and when you will receive your money. So, owner payments will be made by direct deposit on the 1st of each month, and that's excluding weekends or holidays, and we will pay you for the prior month's proceeds. We pay owners in arrears so that we have funds to pay for any repairs instead of requiring owners to maintain a reserve fund for repairs. So for example, if we collect rent in October minus the management fees and any repair invoices, then you would be paid on November 1st via direct deposit, and that typically takes one to two business days to settle into the owner's account. So, that is the only question that I have for today and that is how we pay our owners, which is super important. And I'll see everyone back next week for Talk About It Thursdays. Bye.