Homeowners looking to rent out their properties want to know when they get paid and how they get their money when working with a professional property management company in Chicago. That’s an important question, and today we’re providing some insight into how we do things and handle your finances.
Property Management Chicagoland: Processing Payments
We do our payouts by the twelfth of every month. Why the twelfth? Generally, we start processing our rent payments on the sixth of the month because we expect all our tenants to pay by the fifth. So, depending on the day of the week and whether it’s a weekend or holiday, we prepare financial statements and get the money into your account within a couple of days. Usually, the money will arrive in your account before the twelfth, but that will be the absolute latest you get paid, and it’s what we guarantee.
Chicagoland Property Management: Owner Portal
You will have your owner portal, which gives you online access to your account and your property. You can log on at any time to see your financial statements and check whether you have been paid or not. This portal allows you to see when your payment was made, and you can check this whenever you want. We always suggest an ACH direct deposit so we can transfer funds right from our account to yours. There won’t be any checks or waiting for the mail. It’s a quick way to get funds to you.
Finally, we deduct our monthly management fee from the rent paid by your tenant, so you don’t have to send us any money or make a payment from your own account. This keeps things efficient and simple.
Hopefully, this helps you understand how quickly and efficiently you get your money when you’re working with a good property manager. If you have any questions about the finances associated with your rental property in Chicagoland, please contact us at GC Realty & Development.