Hello all, as we near 100% occupancy (YAY!), we are hoping to see some regular income from the fruits of our labor!
Currently the management company is collecting rents, building an emergency expense fund, paying themselves, paying the loan payment, water/trash, etc., and whatever is left just sitting there! I finally had to say, hey...i've got bills to pay too, can I have some money!
Seriously, what type of arrangement is most common for owners distributions? Is there a preferred way for tax savings? They've proposed a flat monthly amount of what's available and a lump some of what's remaining at years end.
I've only self managed so I'm in unfamiliar territory here.