Sagareus Property Management provides Monthly Reports to Property Owners on the schedule outlined below; Monthly reporting (as compared to quarterly reporting) allows staff and owners alike to closely monitor property financials, identify income opportunities and eliminate unnecessary expenses.
Property Owners with 4 units or less under management receive their reports and distributions between the 15th and 20th of each month.
Owners with 5 or more units under management receive their reports and distributions between the 1st and 5th of each month.
Owner Distributions are made via EFT to the account of your choosing at Owner OnBoarding. You will receive reports the same day Sagareus issues payments; Funds typically become available in your bank account within 2-3 business days.
Owners are issued 4 reports each month:
Rental Owner Statement
The Rental Owner Statement is the most comprehensive report summarizing every transaction during the reporting period in 1 easy to read report. This report also details the property's cash balance (all cash - security deposits, prepayments, current income and property reserve).
The available for payment amount stipulated on the owner statement is the amount submitted for owner draw and represents the property's cash balance, less security deposits and prepayments less the property reserve.
The property reserve is the amount that is consistently held in the owner's operating account throughout the management period.
The Income Statement provides owners a year-to-date comparison of each months income and expense line items. This report best captures the properties profit and loss by month, so property owners can easily compare individual months performance.
The Rent Roll provides owners an overview of the tenants and their ledger(s). Owners can see if there are any credits or outstanding balances due from the tenants as well as the tenants deposit, prepayments and recurring charge amounts.
The Bank Reconciliation is provided to owners so they can cross reference the reporting information with the transactions that have taken place in their operating account during the reporting cycle.
Sagareus does this for 4 reasons:
The recommended authorization amount is at least $2,000. This amount would cover the replacement of a water heater, which would only be done if absolutely necessary.
Keep in mind, our goal is to keep expenses down, so this amount is reserved for emergency, last resort issues only.
The minimum allowed authorization amount is $1,000; Any less than this prevents Sagareus from providing adequate Resident Relations as it slows the entire operation.
Sagareus Real Estate is delighted to be highlighted in the Top 20 Picks for Property Management Companies in Bellevue, WA by PropertyManagement.com in...