There are nearly 20 million rental properties in the United States.
Owning rental properties can be a smart investment, but it can also be a bit overwhelming.
One important part of managing rental properties is handling the money you make from them, known as owner disbursements. Let's find out what they are and how a property manager can help.
What Are Owner Disbursements?
Owner disbursements are the payments property owners get from the money earned by renting out their properties.
These payments are what's left after subtracting all the costs, like property management fees, maintenance expenses, property taxes, and insurance. Typically, property owners receive these payments on a regular basis, usually every month or quarter.
How a Property Manager Can Help
A property management company plays a crucial role in making sure property owners get their rental income without any hassle.
Here's how they can make your life easier when it comes to owner disbursements.
Collecting Rent and Keeping Track
Property managers are responsible for collecting rent from tenants. They make sure rent is paid on time and in full.
They also keep detailed records of all the money coming in and going out, which helps calculate owner disbursements accurately.
Taking Care of Expenses
Property managers handle different expenses related to your investment property. This includes arranging for repairs, paying property taxes and insurance, and managing other property bills.
They make sure these costs are paid on time and keep records of everything to keep your finances in order.
Providing Regular Reports
Property managers give you regular financial reports. These reports show how your property is doing financially, including the money it's making, the expenses it's incurring, and the profit you're making.
You'll usually get these reports every month or quarter, making it easy for you to keep track of your investment's financial health.
Setting Up Payment Schedule
Property managers create a clear schedule for when you'll receive your owner disbursements. They'll ask you how often you'd like to get paid, whether it's monthly or quarterly, and make sure you get your rental income according to that schedule.
They also account for any expenses that need to be deducted before paying you.
Handling Tenant Issues
Dealing with problems caused by tenants, like late rent payments or disputes, can be a headache. Property managers are experts at handling these issues professionally.
They make sure rent is collected on time and help resolve any problems following the law.
Making More Money
Experienced property managers know how to make your property more profitable. They can suggest the right rent prices, reduce the time your property stays empty, and find ways to save money.
All of this helps you make more money from your property and, in turn, receive higher owner disbursements.
Find a Property Manager Today
Owner disbursements are an important part of owning rental property, and a property manager can make it all much easier. They handle everything from rent collection and expense management to financial reporting and tenant problems.
If you want to make the most of your rental property without the daily hassles, consider hiring a professional property manager. Property management companies like Aksarben Property Management can help you.
Get in touch with us today to take the stress off your shoulders.