How We Pay our Landlords
Reading Time: 2 minutes There are different ways in which landlords or property managers collect rent from their tenants. In today’s article, we share with you the most effective strategy we use to pay our landlords here at Green Ocean Property Management. Many landlords who have been managing their properties themselves are very used to either getting checks,…
There are different ways in which landlords or property managers collect rent from their tenants. In today’s article, we share with you the most effective strategy we use to pay our landlords here at Green Ocean Property Management.
Many landlords who have been managing their properties themselves are very used to either getting checks, direct deposits, or even Venmo into their bank accounts.
We will also make it easy for you. Here are the three aspects of paying our landlords.
#1 We collect the rent from the tenants.
Typically on the first of the month, we collect the rent from the tenants. We also have a tenant portal where tenants log in and pay their rent online. It allows us to keep your accounting straight in our financial books. That way, month to month, you know how much income and expenses you have, keeping the records very clean. At the end of the month, we will deduct it and you will see any type of bills that we have to pay for on your behalf.
#2 We transfer the amount to your account.
By the 25th or 26th sixth of the month, we start to transfer into your bank account. When you get that transfer, you will get an email stating our transfers being made to your account.
We do a cut-off within our property management software so you can log in to your landlord portal and it will match the income and expenses that you have in the net number that is being transferred over to.
#3 We pay our landlords online.
All payments are made electronically, so you don’t have to worry about convenience and safety. It is also an inexpensive way to guarantee that every one of your bills is paid on schedule. Furthermore, it will match your online accounting anytime funds are transferred.
Our commitment
If you or anyone else you know is looking for a property manager that makes sure to pay landlords on time and your numbers match month after month, please think of Green Ocean Property Management: where you get more than a property manager, you get peace of mind.
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