How do you handle the remittance of the rental proceeds?
Our monthly accounting period follows the calendar months. We furnish the owner with a summary Statement of Accounts for his property/ies every month, on the 20th day of the succeeding month. That means for example, the transactions for your property made within Jan 1 to 31, will be reported on Feb 20 and so on.
We have this clearing time to allow our accounting staff to complete their work and make sure all our reports are accurate. Accounting mistakes are significantly avoided this way.
At the same date, the net rental proceeds due to the owner for the corresponding accounting period shall also be deposited to his account. In case the same falls on a Saturday, Sunday or a public holiday, the statement shall be sent on the next working day and the rental proceeds due to Owner shall be deposited on the next banking day.
Note: Upon signing of our service contract, you will have to provide us with a bank account where would like your rental proceeds to be deposited. At this time, your nominated bank account should be able to accept check deposits since we release the rental proceeds in checks. Kindly check with your bank if your account is not limited to cash deposits only.