| NEWSLETTERJuly 2024 | Issue No. 24 |
|
Check out the newest issue of our monthly e-newsletter that features our newly implemented process updates, industry-related news, and our latest blog articles.
Here's what we have for you for this month. |
|
|
 | Maintaining a Smooth Partnership: Key Reminders |
|
As we continue our partnership, we want to reiterate some important aspects of our management agreement to ensure smooth and efficient operations for all parties involved. 1. Communication with PropertyWize To enhance our communication and streamline processes, we kindly remind you to utilize our dedicated Owner Portal for all communications. This ensures that we can track and address your concerns promptly. The Owner Portal is designed to keep all communication organized and ensures that your inquiries are addressed in a timely manner.
2. Tenant Interaction To maintain a professional and harmonious relationship with tenants, please avoid contacting them directly. All communications should be routed through us to ensure consistency and avoid any potential misunderstandings. This practice helps us provide a seamless experience for both you and the tenants.
3. Property Access As stipulated in our contract, accessing the property without advance notice is a liability issue. It is crucial to inform us prior to any visits or inspections to the property. This policy ensures the safety and privacy of the tenants and adheres to legal requirements. |
|
| We value your trust and partnership. By adhering to these guidelines, we can ensure a positive experience for everyone involved. Thank you for your continued cooperation and support. |
|
|
PropertyWize Maintenance Program |
|
We would like to remind you about our comprehensive Maintenance Program, designed to preserve and enhance the value of your investment. Our Maintenance Program offers various options tailored to your needs, allowing you to choose the level of service that best fits your property and budget. By participating in our Maintenance Program, you help ensure a well-maintained property, satisfied tenants, and reduced turnover. For more details, please refer to our Maintenance Program Guide. |
|
Action Required: Please check in to confirm which option of the maintenance program you have elected to participate in. If we do not receive a response, you will be automatically enrolled in our standard plan. |
|
|
PropertyWize Rental Owner Statements
|
|
|
Running the rental owner statement report is very important in determining the amount of your available disbursement payment. The rental owner statement will show you all the transactions affecting the owner’s available cash. It is a great place to find missing or incorrect transactions on your rental property that will cause inaccurate information. |
|
| Some Tips When Running Owner Statement |
|
|
Check the property beginning balance. At times, changes to past transactions can affect the owner’s running available for payment balance. Running a rental owner statement with a prior start date will help you find discrepancies. Run the rental owner statement including the transaction details. Seeing more a more detailed view can also help to find discrepancies or missing transactions
|
|
This is the best summary report to give to a rental owner each month Track the cash flow of the property(s) Report liabilities held Determine income and expenses recorded for an owner View the amount you should pay your owners Determine when an owner was not paid the correct amount
|
|
The rental owner statement runs on a cash basis. The beginning cash balance is the amount owed to/from the rental owner, less tenant liabilities and property reserves, as of the day before the date range of the report. For example, if the report has a date range of July 1 through July 31, then the beginning balance is as of June 30. The beginning balance will represent a number other than $0 if you hold back money for a property reserve, are holding tenant liabilities, or if your reporting cycle differs from when you pay your rental owner. For example, if you pay a rental owner on the 4th of each month, a report run from the 1st through the 31st might not show a $0 beginning balance.
|
|
| Instructions How to Run Owner Statement |
|
|
- Go to the Reports menu
- Click the Rental Owner Statement link
- Select your report parameters. More details:
 Click Download report!
|
|
Be a Hero! PropertyWize Referral ProgramPick anyone and we’ll manage their property for 1 month for free and yours for free, too. |
|
|
Owner Benefit PackageMinimize Your Exposure... and Headaches:
When a tenant defaults on the rent, it can take months to regain your property and get another tenant in place. Meanwhile, you're continuing to make mortgage payments and incurring additional expenses on the property, all the while losing rental income. Enter the Owner Benefit Package. Keep Reading |
|
|
PropertyWize RealtyEnjoy Summer with our exclusive offer: 4.5% Commission on sales price.
* For any properties valued over 150K for current or former Property Management clients only. Interested in Selling Your Property? Contact us now at Sales@PropertyWizeRealty.com! |
|
|
|
| |
|
