Owner Statement
PROPERTY RESERVES: The Property Reserve is how much money you are required to keep as a reserve for maintenance or other unexpected expenses. NOTE: Your Property Reserves will not reflect the amount of Security Deposits held in Trust for the Tenants.
CASH FLOW STATEMENT
PROPERTY & PASSTHRU STATEMENT
DEFINITIONS:
Application Fee: An application fee is an amount of money paid by prospective tenants to Rentor so that Rentor can determine eligibility to rent. There is currently a $42 Rental Application Fee. See FAQ: WHAT DOES THE $42 APPLICATION FEE / BACKGROUND SCREENING FEE COVER?
Cash Flow: The term cash flow refers to the net amount of cash being transferred in and out of a property. The cash flow statement paints a picture as to how a property is performing financially.
Discount: Rentor does not mark up invoices, but certain vendors have discount agreements where Rentor retains a discounted portion of the total invoice. Our software automatically conducts all the accounting by splitting the invoiced amounts into two payments: One for the Vendor and one for Rentor that, in total, equals the Vendor Invoice amount so that there is no mark up to the Owner. - See FAQ "Do you mark up invoices from vendors?"
Late fee - Variable - Rent collection administrative fee (Variable paid by Tenant and retained by Rentor)
Notice posting fee - In some instances, a $75 Preparation and Posting Fee based on non-compliance by the Tenant may be charged.
Passthru (Pass Through): A "passthru" transaction involves an amount related to a Tenant, Vendor, or other party that is retained by Rentor.
Pet admin fee - The $25/month per pet fee for additional management related work. A pet-occupied property often results in more work, closer inspections, and occasional complaints from neighboring properties.
Resident Benefits Package (RBP) - The $25/month fee ($5 per additional financially responsible party) is to cover the tenant credit building program, resident rewards program, and other resident benefits as found in the ResidentBenefitsPackage.RPM101.com.
Returned check fee (NSF fee) - $25 per transaction (plus any specific banking related fees / chargebacks.)
Tenant Liability Insurance Admin Fee - This $3/month fee covers the administration of the Tenant Liability Insurance program (if Resident does not provide their own insurance coverage.)
Utility admin fee - $25 charge to the Tenant for extra administrative activities if Tenants do not transfer utilities into their name as required by the Rental Agreement.
FULL MONTH OWNER STATEMENT & OWNER DRAW SCHEDULE
Owner Statement Cycle - You will receive your Owner Statements on or around the last day of each month if you receive your statements via email. If you receive a printed statement, it will be mailed to you on or around the 1st business day of the month.
Owner Draw Cycle - Owner Draws for each month will be sent on or around the last business day of that month. Your Owner Statement will show the Owner Draw as "Cash Out" on the last business day of the month. If you receive your Owner Draw through ACH Direct Deposit, your draw should hit your bank account by the 2nd or 3rd business day of each month.
For example, this means that your January Owner Draw will be received on the 2nd or 3rd business day of February. If you receive your Owner Draw via check in the mail, the check will be received separately from your Owner Statements on or around the 7th business day of the month, or sooner.
Benefits To You
Easier to read Full Month Owner Statements do not overlap months.
Owner Draw, if sent via ACH, will hit your bank account on the 2nd or 3rd business day of each month.
Owner Draws will be sent on the last business day of each month which will reduce the likelihood of issues with bounced checks from tenants or funds not being available for maintenance during the month.
You can go to Owner.RPM101.com to login and view all your past Owner Statements on your Owner Portal.