Updated about 2 years ago on . Most recent reply
When does your property manager send the rent?
If you're using a property manager, when do you typically get the rent?
This is my first time using a property manager, so I assumed they send the rent as soon as the funds clear. Let's say the tenant pays on time then no later than 3 business days after that the property manager can transfer the funds. That's maybe 3 to 7 business days in total.
Ultimately, your contract should spell this out, but I'm curious about what's typical.
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In single family, it is pretty typical to send it to you at the end of the month so they can use rent to cover any repairs during the month.
In apartments, the funds should be directly deposited into the owners bank account and the property manager just processes the paperwork.