Have you ever wondered why your Property Manager is holding payments they have received from your tenant for 10-15 days after your tenant pays the rent? Here’s why. This screen shot of one of our tenant ledgers shows the tenant making a payment on 11/10 and the payment then bounces on 11/17. If your Property Manager paid that payment to you within a few days of 11/10, you would then have to send the payment back to your Property Manager to cover the negative balance where the PM sent you funds that are now not available. This creates a huge problem. PM’s should hold funds for a minimum of 10 days to ensure the payment clears and does not bounce.
