Here you’ll find everything you need to know about how you’ll receive money, send money and view documents.
Owner Draws and Contributions
- An Owner Draw is a disbursement of funds transferred to your bank account. We take great pride in transferring owner draws timely with next business day transfers generally by the 10th of each month.
- A disbursement is determined by the income (monthly rent) less expenses such as management fees, leasing fees, any maintenance repairs/makereadies, or perhaps court costs for terminating a tenant.
- An Owner Contribution is money deposited by an owner to cover costs that may exceed income. Owners can conveniently initiate a contribution directly from their portal (fees may apply) or mail in funds.
- Rave Property Management uses state of the art property management software providing our clients easy to read statements, inspection reports, repair invoices, and custom year-end tax 1099’s.
- Each month you’ll receive a monthly statement for your records. Owner statements accompany each owner draw (even if there’s no owner draw to disburse) all shared in your exclusive account portfolio. A year end property statement is provided along with the 1099 for tax purposes.
- You can also view and download lease agreements, invoices, inspection reports, and the property management agreement directly from your portal at any time all stored in one place.
Our dedicated team is here to provide you assistance at every phase of management.
Please contact Lea Daamgard, Asset Manager, for any questions regarding owner draws, owner statements, invoices, and year-end tax documents.
Phone: 512.524.7339 or 512.377.1486 x5
— Mike R.
— Harold L.
— Nancy F.